Key benchmark indices settled with minor gains after a volatile trading session. The barometer index, the S&P BSE Sensex, rose 24.57 points or 0.08% to settle at 31,795.46. The Nifty 50 index advanced 6.85 points or 0.07% to settle at 9,904.15. Weakness in European stocks and subdued trading on Asian bourses kept investors' risk-appetite in check.

The Sensex and the Nifty reversed trend in mid-morning trade after hitting their highest levels in more than a week in morning trade. Both the indices bounced back in early afternoon trade. Recovery, however, proved short lived as key indices wiped off almost all gains in late trade.

Stocks of public sector banks edged higher. Stocks of private sector banks declined. IT major Infosys advanced after the company announced that its board will consider a proposal for buyback of equity shares at a meeting to be held on 19 August 2017.

The Sensex rose 24.57 points or 0.08% to settle at 31,795.46, its highest closing level since 9 August 2017. The index rose 166.62 points, or 0.52% at the day's high of 31,937.51. The index fell 56.79 points, or 0.18% at the day's low of 31,714.10.

The Nifty advanced 6.85 points or 0.07% to settle at 9,904.15, its highest closing level since 9 August 2017. The index rose 50.50 points, or 0.51% at the day's high of 9,947.80. The index fell 13.55 points, or 0.13% at the day's low of 9,883.75.

United Bank of India rose 0.54% at Rs 18.60. The bank said that it has reduced deposit rates for deposit upto Rs 1 crore from 6.25% to 6.1% per annum. Deposit rate for more than Rs 1 crore has been reduced from 4.5% to 4.35% and amount upto Rs 50 lakh has been revised downwards from 4% to 3.5% effective 18 August 2017. The announcement was made after market hours yesterday, 16 August 2017.

HDFC Bank declined 0.86% at Rs 1,765. The bank during trading hours today, 17 August 2017, announced a revision in its savings bank interest rate effective 19 August 2017. Post revision, customers maintaining savings bank account balance of Rs 50 lakh and above will continue to earn interest at 4% per annum. Customers maintaining account balance of below Rs 50 lakh will earn interest at 3.5% per annum. The revised rates will be applicable to both resident and non-resident customers.

Yes Bank lost 1.28% at Rs 1,738.95. The bank with effect from 1 September 2017 has revised its savings account interest rate slabs for resident & non-resident customers. The new slabs were: 5% per annum for savings balances less than Rs 1 Lakh, 6% (unchanged) for balances of Rs 1 lakh to less than Rs 1 crore and 6.25% per annum for balances above Rs 1 crore. The announcement was made after market hours yesterday, 16 August 2017.

Axis Bank declined 0.46% at Rs 496.80. The bank announced during trading hours today, 17 August 2017, that it retained the marginal cost of funds based lending rate (MCLR) at the same levels across tenors. The 1 year MCLR stands unchanged at 8.25%.

IT major Infosys advanced 4.54% at Rs 1,021.15 after the company announced that the board of directors of the company will consider a proposal for buyback of equity shares at its meeting to be held on 19 August 2017. The announcement was made after market hours yesterday, 16 August 2017.

Power Grid Corporation of India fell 0.54% to Rs 219.45. The company announced during trading hours today, 17 August 2017, that its board approved raising rupee term loan of up to Rs 3270 crore from ICICI Bank. The board also approved investment for HVDC bipole link at estimated cost of Rs 1931 crore.

Reliance Industries (RIL) declined 0.06% at Rs 1,566.05. With reference to news item titled, Govt slaps Rs.1,700-cr penalty on RIL, BP and media report titled, $264 m penalty slapped on RIL, RIL clarified during trading hours today, 17 August 2017, that it has not received any notice from the government regarding penalty in the recent past. The details contained in media reports of 16 August 2017 seems to have been taken from the last notice of 3 November 2016 received from the Government — for which company has already made appropriate disclosures.

In any event, all related claims/disputes relating to Block KG-D6 are currently in arbitration. Further, all these claims have been adequately covered under financial disclosures. RIL maintained that in carrying out petroleum operations, the contractor has complied with all the applicable regulations and provisions of the production sharing contract.

Engineering and construction major Larsen & Toubro (L&T) fell 0.75% to Rs 1,133.05. The company announced during trading hours today, 17 August 2017 that it delivered two more High Speed Interceptor Ships (C-433 and C-434) to Indian Coast Guard at the company's Kattupalli Shipyard, near Chennai, seven months ahead of contractual schedule. This is part of the two contracts being executed by L&T for design and construction of 54 Interceptors to Indian Coast Guard, valued at Rs 1424 crore. L&T had won the order against Global competition. With these two, 34 Interceptors have been delivered by the company, so far.

Separately, L&T announced after market hours yesterday, 16 August 2017 that it entered into definitive agreement for the divestment of its entire stake in L&T Cutting Tools, a wholly-owned subsidiary, with IMC International Metalworking Companies B.V, a company owned by Berkshire Hathaway Inc.

Overseas, European stocks edged lower as banks fell following a set of cautious minutes from the US Federal Reserve, and energy stocks also weighed on a busy day for company results. Asian stocks witnessed a mixed trend.

In economic news, Japanese exports rose 13.4% in July from a year ago, helped by exports of cars and automotive components. It was the eighth straight monthly gain in exports, data from Japan's Ministry of Finance showed today, 17 August 2017.

In US, shares closed slightly higher on Wednesday, 16 August 2017, but backlash from the business community against President Donald Trump kept gains in check. US President Donald Trump unexpectedly said on Wednesday, 16 August 2017, he was disbanding two advisory councils comprising prominent business executives. The move came after several members of Trump's Strategic and Policy Forum and Manufacturing Jobs Initiative councils stepped down following the president's Tuesday press conference in which the president blamed both sides for violence at a white nationalist rally in Virginia.

Meanwhile, minutes from the Federal Open Market Committee's July meeting released on Wednesday, 16 August 2017, showed that while some Fed members said they were worried over the tightening labor market, others voiced their concern over low inflation rates in the US. The minutes also showed the central bank was prepared to trim its massive balance sheet, although the announcement of a start date was left for an upcoming meeting.

Sensex, Nifty settle at one-week high16-Aug-2017 (16:28)

Strong gains in metals and FMCG shares pushed the key benchmark indices higher for second day in a row. The barometer index, the S&P BSE Sensex, gained 321.86 points or 1.02% to settle at 31,770.89. The Nifty 50 index gained 103.15 points or 1.05% to settle at 9,897.30. The Sensex and the Nifty hit one-week closing high. Today's gains were led by ITC, HDFC and HDFC Bank.

The Sensex gained 321.86 points or 1.02% to settle at 31,770.89, its highest closing level since 9 August 2017. The Sensex rose 356.96 points, or 1.14% at the day's high of 31,805.99 in late trade. The index fell 49.68 points, or 0.16% at the day's low of 31,399.35 in early trade.

The Nifty 50 index gained 103.15 points or 1.05% to 9,897.30, its highest closing level since 9 August 2017. The Nifty rose 109.80 points, or 1.12% at the day's high of 9,903.95 in late trade. The index fell 20.30 points, or 0.21% at the day's low of 9,773.85 in early trade.

Index heavyweight and cigarette major ITC gained 3.01% to Rs 279.30. The stock hit a high of Rs 281.70 and a low of Rs 271.65 in intraday trade.

Index heavyweight and housing finance major HDFC advanced 1.58% to Rs 1,741.55. The stock hit a high of Rs 1,758.35 and a low of Rs 1,719.50 in intraday trade. HDFC said that the insurance regulatory authority has granted its final approval for the merger of HDFC's subsidiary and L&T General Insurance Company. The announcement was made after market hours on Monday, 14 August 2017. The stock market was shut yesterday, 15 August 2017 on account of Independence Day holiday.

HDFC said that consequent to the approval of the National Company Law Tribunal, the Insurance Regulatory and Development Authority of India on 14 August 2017 has granted its final approval for the merger of HDFC ERGO General Insurance Company, a subsidiary of the company and L&T General Insurance Company.

Meanwhile, copper price edged higher in the global commodities markets. High Grade Copper for September 2017 delivery was currently up 1.49% at $2.9255 per pound on the COMEX.

Coal India dropped 0.67% after consolidated net profit fell 23.3% to Rs 2351.13 crore on 3.6% rise in net sales to Rs 18404.32 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours on Monday, 14 August 2017. The market remained closed on 15 August 2017 due to Independence Day.

Tata Global Beverage jumped 8.17% to Rs 193.30 after the company said that the premium natural mineral water brand Himalayan will enter the USA market in a phased manner, through an agreement signed by its subsidiary with Talking Rain Beverage Company, the maker of Sparkling Ice flavored sparkling waters to distribute and market the brand. This makes Himalayan one of the first premium Indian FMCG brands to target the broader American audience. The announcement was made on Tuesday, 15 August 2017, when market remained closed for holiday.

Jubilant FoodWorks rose 2.19% to Rs 1,393.80 on reports that a foreign brokerage has increased the target price on the stock to Rs 1,900 from Rs 1,600. As per reports, the foreign brokerage has also raised the target PE multiple on Jubilant FoodWorks to 60, from 55.

Biocon tumbled 5.86% to Rs 328.80 amid media reports of withdrawal of Trastuzumab application and the subsequent clarification issued by the company. Biocon in its clarification issued to the stock exchanges during market hours today, 16 August 2017 said that as previously communicated, whilst its drug substance facilities for Trastuzumab and Pegfilgrastim were approved, the European regulatory authorities had informed Biocon of the need for a re-inspection of its drug product facility for these products.

Biocon further said that the request for withdrawal of the dossiers and re-submission is part of the EMA procedural requirements linked to this re-inspection and will be considered by the EMA's Committee for Medicinal Products for Human Use (CHMP). Biocon said it is on track to complete its corrective and preventive actions (CAPAs) by the end of this quarter and it is its intent to seek re-inspection and re-submission thereafter.

On the macro front, the all-India general Consumer Price Index (CPI)-based inflation rebounded 2.36% in July 2017, compared with 1.46% in June 2017. The data was released after market hours on Monday, 14 August 2017.

Data released after market hours on Monday, 14 August 2017, by the commerce ministry showed that goods exports rose for the twelfth consecutive month with shipments in July registering a 3.94% year-on-year growth to $22.54 billion. Goods imports in July recorded 15.42% to $33.99 billion — the slowest pace since 1.13% growth in January 2017. This led to trade deficit (goods) narrowing on a month-on-month basis to $11.45 billion, the lowest since $10.5 billion recorded in March 2017.

In US, the main benchmarks ended little changed overnight amid better-than-expected retail sales data and an abatement of tensions between the US and North Korea. The Dow Jones Industrial Average finished up 5.28 points, or less than 0.1%, at 21,998.99. The S&P 500 index declined 1.23 points to finish at 2,464.61. The Nasdaq Composite Index slipped 7.22 points, or 0.1%, to close at 6,333.01.

US retail sales recorded their biggest increase in seven months in July as consumers boosted purchases of motor vehicles as well as discretionary spending, suggesting the economy continued to gain momentum early in the third quarter. The Commerce Department said on Tuesday, 15 August 2017, that retail sales jumped 0.6% last month. That was the largest gain since December 2016 and followed June's upwardly revised 0.3% rise.

Market nudges higher on positive global stocks 14-Aug-2017 (16:36)

Domestic bourses logged modest gains on first trading day of the week boosted by positive global cues. The barometer index, the S&P BSE Sensex, gained 235.44 points or 0.75% to settle at 31,449.03. The Nifty 50 index gained 83.35 points or 0.86% to settle at 9,794.15. Global stocks rallied as US inflation data dampened prospects of a rate hike this year. Stock markets remain closed tomorrow, 15 August 2017, on account of Independence Day.

The Sensex and the Nifty snapped their five-day declining trend today, 14 August 2017 on bargain hunting. The Sensex had declined 1,111.82 points or 3.44% in prior five trading sessions to settle at 31,213.59 on 11 Auguat 2017 from its close of 32,325.41 on 4 August 2017.

The Sensex gained 235.44 points or 0.75% to settle at 31,449.03, its highest closing level since 10 August 2017. The Sensex rose 312.81 points, or 1% at the day's high of 31526.40 in late trade, its highest level since 10 August 2017. The index rose 85.31 points, or 0.27% at the day's low of 31,298.90 in early trade.

The Nifty 50 index gained 83.35 points or 0.86% to settle at 9,794.15, its highest closing level since 10 August 2017. . The Nifty rose 107.50 points, or 1.11% at the day's high of 9,818.30 in late trade, its highest level since 10 August 2017. The index rose 41.30 points, or 0.43% at the day's low of 9,752.10 in early trade.

Bank of Baroda slipped 0.25% after net profit fell 52% to Rs 203.39 crore on 1.9% rise in total income to Rs 12103.86 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours on Friday, 11 August 2017.

Gross non-performing assets (NPAs) rose to Rs 46172.77 crore as on 30 June 2017 as against Rs 42718.70 crore as on 31 March 2017 and Rs 42991.68 crore as on 30 June 2016. The ratio of gross NPAs to gross advances rose to 11.4% as on 30 June 2017 as against 10.46% as on 31 March 2017 and 11.15% as on 30 June 2016. The ratio of net NPAs to net advances rose to 5.17% as on 30 June 2017 as against 4.72% as on 31 March 2017 and 5.73% as on 30 June 2016. Provisions and contingencies rose 18.16% to Rs 2368.05 crore in Q1 June 2017 over Q1 June 2016. The Provision Coverage Ratio (PCR) stood at 66.28% as at 30 June 2017.

Adani Ports & Special Economic Zone (APSEZ) gained 3.07%. The company's consolidated net profit fell 13.7% to Rs 710.25 crore on 50.3% rise in net sales to Rs 2745.14 crore in Q1 June 2017 over Q1 June 2016. The announcement of results was made on Saturday, 12 August 2017. The stock had dropped 7.27% in three sessions to settle at Rs 383.90 on 11 August 2017, from a close of Rs 414 on 8 August 2017 ahead of the results.

The company said that the net profit in Q1 June 2017 was lower due to higher tax incidence at Mundra Port which is now out of tax holiday period. However, from a tax cash flow angle, there is no change (impact) as minimum alternate tax (MAT) credit of earlier years is available to the tune of Rs 2700 crore.

Karan Adani, Chief Executive Officer and Whole Time Director of APSEZ said that the operations in port and logistic business continues to be robust. With string of ports across India providing multi point access to India's hinterland, the company expects cargo volumes to grow as per earlier guidance in FY 2018. Mundra port is on the verge of becoming the largest container handling port in India.

The company would continue to pursue plans to expand logistic foot prints by adopting asset light model. Higher capacity utilization, focus on operational efficiencies by automation and technology upgrades and focus on cost reduction will ensure higher cash flows, he added.

Drug major Sun Pharmaceutical Industries rose 4.7% after consolidated adjusted net profit excluding the Modafinil settlement fell 74% at Rs 526 crore on 23% decline in sales to Rs 6167 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours on Friday, 11 August 2017.

Net profit for Q1 June 2017 was adversely impacted by settlements with certain plaintiffs related to the Modafinil antitrust litigation in the US, with the settlement amounting to Rs 950 crore. Net profit for Q1 June 2016 included the benefit of the 180-day exclusivity for Imatinib which expired in July-2016.

Dilip Shanghvi, Managing Director of the company said that Q1 performance was not good and not in line with the past performance due to the combined impact of increasing investments in global specialty business, temporary disruption in India business due to GST implementation, a challenging US generic pricing environment and the Modafinil settlement. The company expects performance to gradually improve in the second half of this year.

Separately, company said that all the necessary formalities for completion of acquisition of 2.03 lakh series A preferred stock-equivalent to 15.91% fully diluted equity stake on conversion, of Krystal Biotech Inc., have now been concluded. On 8 August 2017, the company had disclosed regarding agreement of said acquisition of Krystal Biotech Inc., United States of America.

State-run BPCL shed 1.16% after net profit fell 71.6% to Rs 744.56 crore on 21.7% growth in net sales to Rs 57125.80 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Friday, 11 August 2017.

Average gross refining margin (GRM) fell to $4.88 per barrel in Q1 June 2017 from $6.09 per barrel in Q1 June 2016. The company has accounted compensation towards sharing of under-recoveries on sale of sensitive petroleum products of Rs 196.75 crore by way of subsidy for Q1 June 2017 compared to Rs 307.28 crore in Q1 June 2016 accounted as revenue from operations. The net under-recovery absorbed by the corporation on sale of sensitive petroleum products is nil in Q1 June 2017 and Q1 June 2016.

Tata Power Company rose 3.72% after consolidated net profit jumped 68.3% to Rs 220.87 crore on 3.08% rise in total income to Rs 6999.90 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 14 August 2017.

Avanti Feeds surged 15.56% after consolidated net profit jumped 203.6% to Rs 148.84 crore on 37.8% increase in net sales to Rs 998.17 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Friday, 11 August 2017.

Quick Heal Technologies dropped 4.12% after the company reported loss of Rs 11.08 crore in Q1 June 2017 compared with net profit of Rs 23.63 crore in Q4 March 2017. Quick Heal Technologies' total income fell 64.01% to Rs 35.19 crore in Q1 June 2017 over Q4 March 2017. The result was announced after market hours on Friday, 11 August 2017.

Kailash Katkar, Managing Director and Chief Executive Officer of the company said that the performance in Q1 June 2017 was adversely impacted by the transition of economy to the GST regime from 1 July 2017.

The decline in retail segment revenues was primarily on account of delay in stocking of products by the distributors who were waiting for commencement of the GST regime. July witnessed good pickup in demand from the distributors who had held back their purchases in Q1 June 2017, he added.

TVS Electronics rose 5.42% after the company reported net profit of Rs 2.40 crore in Q1 June 2017, compared with net loss of Rs 2.07 crore in Q1 June 2016. TVS Electronics' net sales surged 725.3% to Rs 883.29 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Friday, 11 August 2017.

On a the macro front, the annual rate of inflation, based on monthly wholesale price index (WPI), stood at 1.88% (provisional) in July 2017 compared with 0.90% (provisional) in June 2017 and 0.63% in July 2016. The data was released during trading hours today, 14 August 2017.

India's industrial production in June 2017 contracted 0.1%, the lowest reading since June 2013, driven primarily by a 6.8% contraction in capital goods. Data for growth in the Index of Industrial Production (IIP) for May 2017 was revised to 2.8%. The fall in capital goods production was the most drastic contraction since September 2016. The data was announced after market hours on Friday, 11 August 2017.

Overseas, European and Asian stocks edged higher on bargain hunting after recent losses although broader sentiment was tempered by continued tensions between the United States and North Korea.

Gains among technology companies helped snap a three-day losing streak for US stocks on Friday, 11 August 2017. The Dow Jones Industrial Average rose 14.31 points to close at 21,858.32. The S&P 500 gained 3.11 points, or 0.1%, to end at 2,441.32. The Nasdaq Composite Index climbed 39.68 points, or 0.6%, to close at 6,256.56. Investors bet on slower US rate hikes following weaker-than-expected consumer price data. But gains were muted by increasingly aggressive exchanges between Washington and Pyongyang.

Geopolitical risks were expected to remain a key theme for the global markets in the near term, as North Korea celebrates Liberation Day on Tuesday, 15 August 2017, to mark the end of Japanese rule. Investors also braced for tensions ahead of 21 August 2017, when an annual joint US-South Korean military exercise is due to begin.

Sensex settles at over 5-1/2-week low11-Aug-2017 (16:35)

Key benchmark indices registered strong losses on last trading day of the week on weak global cues amid escalating tensions between the US and North Korea. The barometer index, the S&P BSE Sensex, lost 317.74 points or 1.01% to settle at 31,213.59. The Nifty index lost 109.45 points or 1.11% to settle at 9,710.80. Key indices logged declines for the fifth straight trading session. The Sensex settled at its lowest level in over 5-1/2 weeks. The Nifty settled at 5-week low.

Sentiment was also affected adversely after the finance ministry said in its mid-year economic survey today, 11 August 2017, that there are downside risks to the Indian government's growth forecast of 6.75-7.5% for the fiscal year to March 2018.

Domestic stocks saw a gap-down opening on weak global cues as geopolitical tensions prompted investors to adopt a risk off approach. Stocks cut losses in morning trade. Stocks languished in the red later during the session. Key indices extended losses since afternoon trade and hit fresh intraday low in late trade.

The Sensex lost 317.74 points or 1.01% to settle at 31,213.59, its lowest closing level since 4 July 2017. The Sensex fell 152.13 points or 0.48% at the day's high of 31,379.20. The index lost 403.31 points or 1.28% at the day's low of 31,128.02.

The Nifty index lost 109.45 points or 1.11% to settle at 9,710.80, its lowest closing level since 7 July 2017. The Nifty fell 48.60 points or 0.49% at the day's high of 9,771.65. The index lost 134.70 points or 1.37% at the day's low of 9,685.55.

The S&P BSE Mid-Cap index fell 0.2%. The S&P BSE Small-Cap index fell 0.04%. The fall in both these indices was lower than the Sensex's decline in percentage terms.

The market breadth, indicating the overall health of the market, was weak. On the BSE, 1,558 shares fell and 980 shares rose. A total of 129 shares were unchanged.

The total turnover on BSE amounted to Rs 4363.57 crore, lower than the turnover of Rs 4589.35 crore registered during the previous trading session.

Tata Motors dropped 1.71%. The company and Skoda ceased discussions around potential partnership. The announcement was made after market hours yesterday, 10 August 2017. Tata Motors and Skoda Auto have performed a joint technical feasibility and commercial evaluation of a potential collaboration. Based on intense and constructive discussions, both the companies have jointly concluded that the envisioned areas of partnership may not yield the desired synergies as originally assessed. Nevertheless, the two companies have decided to keep in touch for future areas of collaborations.

Tata Motors will continue to pursue its standalone product strategy to bring exciting and world-class products to its customers.

Hindalco Industries slumped 7.15% after net profit fell 1.36% to Rs 290 crore on 27.55% growth in revenue from operations to Rs 10407 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 11 August 2017.

Hindalco's net profit in Q1 June 2017 factors the exceptional provisioning of Rs 104 crore which is on the basis of recent Supreme Court judgement in a matter relating to mining regulation (to which the company was not a party). Hindalco anticipates that the judgement may have an implication on its existing litigation which is sub-judice. The provision has been made as a matter of abundant caution.

The company's earnings before interest, taxation, depreciation and amortization (EBITDA) rose 3.92% to Rs 1404 crore in Q1 June 2017 over Q1 June 2016, on account of higher aluminium and copper volumes, supportive macros partly offset by higher input cost.

MOIL rose 3.57% after the company said its board recommended 1:1 bonus issue of shares. MOIL announced that its net profit surged 107.3% to Rs 97.73 crore on 82.7% increase in net sales to Rs 339.40 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 10 August 2017.

State Bank of India (SBI) lost 5.36% after the bank's net profit fell 20.44% to Rs 2005.53 crore on 28.57% rise in total income to Rs 62911.08 crore in Q1 June 2017 over Q1 June 2016. The first quarter results are not comparable with year ago period due to merger of its subsidiaries with self, SBI said. The announcement was made during market hours today, 11 August 2017.

The bank's gross non-performing assets (NPAs) stood at Rs 188068.49 crore as on 30 June 2017 as against Rs 112342.99 crore as on 31 March 2017 and Rs 101541.18 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 9.97% as on 30 June 2017 as against 6.90% as on 31 March 2017 and 6.94% as on 30 June 2016.

The ratio of net NPAs to net advances stood at 5.97% as on 30 June 2017 as against 3.71% as on 31 March 2017 and 4.05% as on 30 June 2016. The bank's provisions and contingencies rose 20.46% to Rs 8929.48 crore in Q1 June 2017 over Q1 June 2016. Of this, provisions for NPAs rose 91.26% to Rs 12125.26 crore in Q1 June 2017 over Q1 June 2016. Provision coverage ratio of the bank was at 60.79% as on 30 June 2017.

Union Bank of India lost 5.24% after net profit fell 29.9% to Rs 116.58 crore on 7.3% growth in total income to Rs 9567.69 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hour yesterday, 10 August 2017.

The bank's gross non-performing assets (NPAs) stood at Rs 37286.33 crore as on 30 June 2017 as against Rs 33712.28 crore as on 31 March 2017 and Rs 27280.90 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 12.63% as on 30 June 2017 as against 11.17% as on 31 March 2017 and 10.16% as on 30 June 2016.

The ratio of net NPAs to net advances stood at 7.47% as on 30 June 2017 as against 6.57% as on 31 March 2017 and 6.16% as on 30 June 2016. The bank's provisions and contingencies rose 25.9% to Rs 1703.71 crore in Q1 June 2017 over Q1 June 2016.

Bank of Maharashtra fell 0.57%. The Government of India raised its stake in the bank to 82.91% from 81.61% earlier. The announcement was made during trading hours today, 11 August 2017. Bank of Maharashtra said that its board allotted 8.88 crore equity shares at Rs 33.75 each to the Government of India (GoI) on preferential basis. Consequently, shareholding of GoI in Bank of Maharashtra has increased from 81.61% to 82.91%.

Indian Overseas Bank lost 2.16% after the bank reported net loss of Rs 499.09 crore in Q1 June 2017 compared with net loss of Rs 1450.50 crore in Q1 June 2016. The result was announced after market hour yesterday, 10 August 2017.

Indian Overseas Bank's total income declined 11.8% to Rs 5174.50 crore in Q1 June 2017 over Q1 June 2016. The bank's gross non-performing assets (NPAs) stood at Rs 35453.12 crore as on 30 June 2017 as against Rs 35098.25 crore as on 31 March 2017 and Rs 33913.15 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 23.6% as on 30 June 2017 as against 22.39% as on 31 March 2017 and 20.48% as on 30 June 2016. The ratio of net NPAs to net advances stood at 14.97% as on 30 June 2017 as against 13.99% as on 31 March 2017 and 13.97% as on 30 June 2016. The bank's provisions and contingencies fell 24.8% to Rs 1607.88 crore in Q1 June 2017 over Q1 June 2016.

Cipla lost 1.13%. The company's consolidated net profit rose 23.63% to Rs 424.92 crore on 0.03% growth in total income to Rs 3676.43 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 11 August 2017.

Bosch slipped 3.72% after net profit fell 20.09% to Rs 302.61 crore on 1.93% growth in total income to Rs 2959.97 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 11 August 2017.

GAIL (India) rose 1.54%. The company's net profit declined 23.2% to Rs 1025.64 crore on 6.7% growth in net sales to Rs 11406.47 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 10 August 2017.

Cochin Shipyard settled at Rs 522 on BSE, a premium of 20.83% over initial public offer (IPO) price of Rs 432 per share on its debut today, 11 August 2017. The stock opened at Rs 435, a premium of 0.69% over issue price. The stock settled at the intraday high level. It had a hit a low of Rs 435 in intraday trade. On the BSE, 32.45 lakh shares were traded on the counter.

The IPO of Cochin Shipyard had received a stellar response from investors. It was oversubscribed 76.19 times. The IPO price band was fixed at Rs 424-432 per share. Cochin Shipyard is one of the leading ship building and ship repairing companies in India.

Meanwhile, the finance ministry said in its mid-year economic survey today, 11 August 2017, that there are downside risks to the Indian government's growth forecast of 6.75-7.5% for the fiscal year to March 2018. The survey, authored by Chief Economic Adviser Arvind Subramanian, also said inflation was expected to remain below the central bank's 4% target through to the end of the fiscal year and described scope for monetary easing as considerable.

Overseas, European and Asian stocks dropped as investors continued to pare their riskier positions following escalating geopolitical tensions between the US and North Korea. Japan's markets were shut for a public holiday. US stocks finished sharply lower yesterday, 10 August 2017 amid a persistent war of words between the US and North Korea and a clutch of disappointing earnings reports.

Geopolitical tension gained momentum yesterday, 10 August 2017 after a North Korean army commander reportedly said that sound dialogue isn't possible with US President Donald Trump and only absolute force can work on him. North Korea also laid out detailed plans of how it would launch a missile strike on US military bases in Guam. Reports in media indicated that China would intervene if there is a first strike against North Korea.

Sensex hits over one-month closing low10-Aug-2017 (16:32)

Key benchmark indices dropped in tandem with global stocks to register losses for fourth day in a row. The barometer index, the S&P BSE Sensex, lost 266.51 points or 0.84% to settle at 31,531.33. The Nifty 50 index lost 87.80 points or 0.89% to settle at 9,820.25. Global stocks declined on escalating tensions between the US and North Korea. The Sensex hit its lowest closing level in over one month while the Nifty hit almost one-month closing low.

Indices traded in the negative terrain throughout the session. Domestic stocks nudged lower in early trade on negative global cues. Key indices cut losses in mid-morning trade after hovering in negative zone in morning trade. After hovering in red till mid-afternoon trade, volatility gripped bourses in late trade as the key indices cut losses soon after extending fall to hit fresh intraday low.

The Sensex lost 266.51 points or 0.84% to settle at 31,531.33, its lowest closing level since 7 July 2017. The index lost 375.04 points or 1.18% at the day's low of 31,422.80. The index fell 41.57 points or 0.13% at the day's high of 31,756.27.

The Nifty lost 87.80 points or 0.89% to settle at 9,820.25, its lowest closing level since 11 July 2017. The index lost 131.85 points or 1.33% at the day's low of 9,776.20. The index fell 15.40 points or 0.16% at the day's high of 9,892.65.

The S&P BSE Mid-Cap index shed 2.64%. The S&P BSE Small-Cap index dropped 2.9%. The fall in both these indices was higher than the Sensex's decline in percentage terms.

The broad market depicted weakness. There were over five losers against every gainer on BSE. 2,214 shares declined and 360 shares rose. A total of 109 shares were unchanged.

The total turnover on BSE amounted to Rs 4587 crore, higher than the turnover of Rs 3608.13 crore registered during the previous trading session.

Tata Motors slumped 8.6% to Rs 380.90 after declaring Q1 result after market hours yesterday, 9 August 2017. The stock had hit a high of Rs 404. The stock hit a low of Rs 376, which is a 52-week low. Tata Motors' consolidated net profit rose 41.59% to Rs 3200 crore on 9.92% drop in revenue to Rs 58651 crore in Q1 June 2017 over Q1 June 2016.

Tata Motors' consolidated revenue was lower due to translation impact from Pound to Rupee. Also, PAT in Q1 June 2017 was boosted by a one-time gain of Rs 3609 crore relating to the changes made to the Jaguar Land Rover (JLR) pension plans.

The operating performance broadly reflects lower wholesale volumes for JLR business excluding the China joint venture, and continuation of higher competitive incentive levels and launch and growth costs seen in FY 2017.

Aurobindo Pharma declined 0.17%, with the stock extending losses after the company reported weak Q1 June 2017 results after market hours yesterday, 9 August 2017. Shares of Aurobindo Pharma had declined 5.84% in a single trading session yesterday, 9 August 2017 to settle at Rs 684.15, ahead of announcing Q1 results.

Aurobindo Pharma's consolidated net profit fell 11.4% to Rs 518.50 crore on 2.3% decline in revenue from operations to Rs 3678.70 crore in Q1 June 2017 over Q1 June 2016.

EBITDA (earnings before interest, taxation, depreciation and amortization) before forex and other income fell 5.3% to Rs 841.60 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin contracted to 22.9% in Q1 June 2017, from 23.6% in Q1 June 2016.

The company's Managing Director N. Govindarajan said that its key markets continue to maintain its momentum in both YoY and QoQ despite headwinds. It expects the momentum to sustain going forward driven by changing product mix towards complex products. It remains focused on strengthening its existing businesses and developing a differentiated and specialty driven product basket, Govindarajan said.

Separately, Aurobindo Pharma said after market hours yesterday, 9 August 2017 that it will increase its stake in Tergene Biotech to 80% from 60% by subscribing additional 56.50 lakh equity shares of Rs 10 each at par aggregating to Rs 5.65 crore. Tergene Biotech was a 60:40 joint venture between the company and promoters of Tergene.

Eicher Motors lost 4.21%. The company's consolidated net profit rose 22.1% to Rs 459.62 crore on 28.5% growth in net sales to Rs 1991.78 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 9 August 2017.

NMDC declined 3.68%. The company's net profit rose 36.2% to Rs 969.20 crore on 65.1% growth in net sales to Rs 2841.53 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 9 August 2017.

Shares of Security and Intelligence Services (India) settled at Rs 756.70 on BSE, a discount of 7.15% over initial public offer price of Rs 815 per share on its debut on the bourses today, 10 August 2017. The stock opened at Rs 875, a premium of 7.36% over the issue price. The stock had hit a high of Rs 878 and a low of Rs 749 in intraday trade. On the BSE, 13.20 lakh shares were traded on the counter. Security and Intelligence Services (India) (SIS) is a leading provider of private security and facility management services in India.

Key indices fell for the fourth day in a row today, 10 August 2017. The Sensex has declined 794.08 points or 2.45% in four sessions, from a close of 32,325.41 on 4 August 2017. The Sensex has fallen 983.61 points or 3.02% in August so far (till 10 August 2017). The Sensex has risen 4,904.87 points or 18.42% in the calendar year 2017 so far (till 10 August 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 5,813.40 points or 22.6%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 1,155.15 points or 3.53%.

Meanwhile, India Meteorological Department (IMD) said that area weighted rainfall for the country as a whole till 9 August 2017 was 3% below the normal rainfall. The quantum of the rainfall and its spatial and temporal distribution are critical for the country's agriculture. Around 70% of the country's farmlands are rain-fed.

Overseas, European and Asian stocks declined as investors continued to take risks off the table even as American officials tried to ease concerns amid an escalation in tensions between the US and North Korea.

Meanwhile, North Korea dismissed warnings by US President Donald Trump that it would face fire and fury if it threatened the United States as a load of nonsense and outlined detailed plans on for a missile strike near the US Pacific territory of Guam. North Korea's apparently rapid progress in developing nuclear weapons and missiles capable of reaching the US mainland has fueled tensions that erupted into a war of words between Washington and Pyongyang this week, unnerving global investors.

French industrial production fell further than expected in June as manufactured goods output declined, statistics showed. Industrial output in the eurozone's second-largest economy fell 1.1% on the month in June. British industrial output unexpectedly picked up in June after oil producers delayed normal seasonal maintenance. In June, industrial output jumped by 0.5% on the month.

US stocks closed lower yesterday, 9 August 2017 as tensions between North Korea and the US added a dollop of geopolitical uncertainty to markets, and as high-profile companies disappointed with their quarterly results.

In the latest escalation of tensions between Washington and Pyongyang, the isolated Asian country threatened a missile strike at US territory Guam. That saber-rattling came a day after US President Donald Trump said he would respond with fire and fury like the world has never seen if the country doesn't halt its threats.

On the Federal Reserve front, Chicago Fed President Charles Evans said he supported starting a reduction of the central bank's $4.5 trillion balance sheet in September but was ambivalent about another rate hike this year.

Indices drop for third day in a row09-Aug-2017 (16:29)

Key benchmark indices registered losses for third day in a row as weakness in global stocks amid escalating geopolitical tensions between US and North Korea weighed on sentiment on the domestic bourses. The barometer index, the S&P BSE Sensex, lost 216.35 points or 0.68% to settle at 31,797.84. The Nifty 50 index lost 70.50 points or 0.71% to settle at 9,908.05. The Sensex hit more than three-week closing low. The Nifty hit almost three-week closing low.

The Sensex settled below the psychological 32,000 mark after sliding below that level in opening trade. Domestic stocks saw a gap-down opening on negative global cues. Stocks cut losses in morning trade as select index pivotals were off intraday day lows. Key indices extended fall in mid-morning trade and languished in the red till afternoon trade. Indices extended losses in late trade after witnessing a mild recovery in mid-afternoon trade.

The Sensex dropped 216.35 points or 0.68% to settle at 31,797.84, its lowest closing level since 18 July 2017. The index lost 292.28 points or 0.88% at the day's low of 31,731.91. The index fell 46.91 points or 0.14% at the day's high of 31,967.28.

The Nifty lost 70.50 points or 0.71% to settle at 9,908.05, its lowest closing level since 20 July 2017. The index lost 85.50 points or 0.85% at the day's low of 9,893.05. The index fell 8.75 points or 0.08% at the day's high of 9,969.80.

The S&P BSE Mid-Cap index shed 1.66%. The S&P BSE Small-Cap index lost 1.88%. The fall in both these indices was higher than the Sensex's decline in percentage terms.

The broad market depicted weakness. There were more than three losers against every gainer on BSE. 1,979 shares declined and 597 shares rose. A total of 121 shares were unchanged.

The total turnover on BSE amounted to Rs 3606.01 crore, lower than the turnover of Rs 7319.29 crore registered during the previous trading session.

Sun Pharmaceutical Industries lost 5.13% after the company's US subsidiary Taro Pharmaceutical Industries yesterday, 8 August 2017, reported weak results for the quarter ended 30 June 2017. Taro Pharmaceutical Industries' net profit fell 50.4% to $54.50 million on 31% decline in net sales to $161.30 million in the quarter ended 30 June 2017 over the quarter ended 30 June 2016.

Meanwhile, Sun Pharmaceutical Industries announced after market hours yesterday, 8 August 2017 that one of its wholly owned subsidiaries has agreed to acquire by way of allotment to it, 2.03 lakh Series A Preferred Stock (equivalent to 15.91% fully diluted equity stake on conversion) of Krystal Biotech Inc., United States of America, a biopharmaceutical company using gene therapy to develop treatments for patients suffering from rare debilitating disorders.

Bank of India rose 3.77% after the bank reported net profit of Rs 87.71 crore in Q1 June 2017, compared with net loss of Rs 741.36 crore in Q1 June 2016. The result was announced during market hours today, 9 August 2017.

Bank of India's total income rose 4.14% to Rs 11106.61 crore in Q1 June 2017 over Q1 June 2016. The bank's provisions and contingencies fell 18.94% to Rs 2245.28 crore in Q1 June 2017 over Q1 June 2016.

The bank's gross non-performing assets (NPAs) stood at Rs 51019.11 crore as on 30 June 2017 as against Rs 52044.52 crore as on 31 March 2017 and Rs 51874.50 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 13.05% as on 30 June 2017 as against 13.22% as on 31 March 2017 and 13.38% as on 30 June 2016. The ratio of net NPAs to net advances stood at 6.7% as on 30 June 2017 as against 6.9% as on 31 March 2017 and 7.78% as on 30 June 2016.

Key indices fell for the third day in a row today, 9 August 2017. The Sensex has declined 527.57 points or 1.63% in three sessions, from a close of 32,325.41 on 4 August 2017. The Sensex has fallen 717.10 points or 2.2% in August so far (till 9 August 2017). The Sensex has risen 5,171.38 points or 19.42% in the calendar year 2017 so far (till 9 August 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,079.91 points or 23.64%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 888.64 points or 2.71%.

Meanwhile, India's diplomatic efforts to end a seven-week military standoff with China have reportedly hit a roadblock, prompting Chinese state-run media to trumpet rhetoric of unavoidable countermeasures on the unmarked border. China has insisted that India unilaterally withdraw its troops from the remote Doklam plateau claimed by both Beijing and Indian ally Bhutan.

Overseas, European and Asian stocks declined as investors took a risk-off approach after the US and North Korea exchanged threats amid escalating tensions between the two nations. North Korea reportedly said it is considering plans for a missile strike on the US Pacific territory of Guam, just hours after President Donald Trump told North Korea that any threat to the United States would be met with fire and fury.

Meanwhile, a car rammed into a group of soldiers in a Parisian suburb today, 9 August 2017, injuring six before speeding off in what officials identified as a suspected terrorist attack.

On macro data front, China's producer price gains held steady in July on surging commodity prices, as demand stayed resilient and the government's drive to reduce industrial capacity takes hold. China's consumer inflation unexpectedly slowed in July on continued weakness in food prices and cheaper non-food items. China's consumer price index in July increased 1.4% from a year earlier, compared with a 1.5% gain in June.

US stocks finished near lows of the session yesterday, 8 August 2017 reversing earlier gains as an early rally in financial, tech and energy stocks fizzled amid tough talk from President Donald Trump on North Korea. In US economic news, the Labor Department reported yesterday, 8 August 2017 that the number of job openings in June vaulted to 6.16 million from 5.7 million in May.

Sensex hits lowest closing level in almost three weeks08-Aug-2017 (16:24)

Key benchmark indices settled with modest losses as investors were spooked by the market regulator Securities and Exchange Board of India's (Sebi) directions yesterday, 7 August 2017 to the stock exchanges to initiate action against 331 firms that it suspects are shell companies and are listed on the bourses. Weak global cues also weighed on sentiment on the domestic bourses.

The barometer index, the S&P BSE Sensex, lost 259.48 points or 0.8% to settle at 32,014.19. The Nifty 50 index lost 78.85 points or 0.78% to settle at 9,978.55. The Sensex hit lowest closing level in almost three weeks. The Nifty hit two-week closing low. Key indices fell for the second day in a row today, 8 August 2017.

Intraday volatility was high on the bourses. The Sensex settled above the psychological 32,000 level after moving above and below that level in intraday trade. The Nifty settled below the psychological 10,000 level after moving above and below that level in intraday trade.

Key indices traded with small gains in early trade led by turnaround Q1 results by steel giant Tata Steel and select auto stocks. A sudden sell-off gripped bourses in morning trade led by slide in index heavyweights ITC, HDFC Bank and Reliance Industries. Stocks cut losses in mid-morning trade and languished in the red later during the session.

The Sensex lost 259.48 points or 0.8% to settle at 32,014.19, its lowest closing level since 20 July 2017. The index lost 358.47 points or 1.11% at the day's low of 31,915.20. The index gained 81.10 points or 0.25% at the day's high of 32,354.77.

The Nifty 50 index lost 78.85 points or 0.78% to settle at 9,978.55, its lowest closing level since 25 July 2017. The index lost 110.40 points or 1.1% at the day's low of 9,947. The index gained 26.40 points or 0.26% at the day's high of 10,083.80.

The S&P BSE Mid-Cap index shed 1.2%. The S&P BSE Small-Cap index lost 1.3%. The fall in both these indices was higher than the Sensex's decline in percentage terms.

The broad market depicted weakness. There were more than three losers against every gainer on BSE. 1,984 shares declined and 600 shares rose. A total of 123 shares were unchanged.

The total turnover on BSE amounted to Rs 7317.08 crore, higher than the turnover of Rs 3895.41 crore registered during the previous trading session.

Merck fell 3.1% after net profit fell 11.6% to Rs 20.13 crore on 3.7% decrease in net sales to Rs 251.61 crore in Q2 June 2017 over Q2 June 2016. The result was announced after market hours yesterday, 7 August 2017.

Tata Steel rose 2.63% after the company reported consolidated net profit of Rs 921.09 crore in Q1 June 2017 compared with net loss of Rs 3183.07 crore in Q1 June 2016. Tata Steel's consolidated net sales rose 18.9% to Rs 29386.76 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 7 August 2017.

The company's consolidated profit after tax (PAT) from continuing operations before exceptional items surged 311.14% to Rs 1550 crore in Q1 June 2017 over Q1 June 2016. Exceptional items during the quarter (Q1 June 2017) were Rs 617 crore mainly relating to provision for mining related litigation.

Koushik Chatterjee, Group Executive Director (Finance and Corporate), said that Tata Steel Europe strategic portfolio restructuring of focusing on strip business is now completed with the sale of 42-inch and 84-inch pipe mills in Hartlepool, UK to Liberty House Group. Tata Steel is in advanced discussions with the BSPS Trustee, the Pension Regulator and the Pension Protection Fund in relation to RAA, and is hopeful of reaching final agreement shortly, Chatterjee said.

Key indices fell for the second day in a row today, 8 August 2017. The Sensex has declined 311.22 points or 0.96% in two sessions, from a close of 32,325.41 on 4 August 2017. The Sensex has fallen 500.75 points or 1.54% in August so far (till 8 August 2017). The Sensex has risen 5,387.73 points or 20.23% in the calendar year 2017 so far (till 8 August 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,296.26 points or 24.48%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 672.29 points or 2.05%.

Meanwhile, the securities market regulator, the Securities and Exchange Board of India (SEBI) has released names of the 331 suspected shell companies. The SEBI has notified BSE, NSE and the Metropolitan Stock Exchange to keep these 331 stocks in stage four of the Graded Surveillance Mechanism (GSM) with immediate effect. SEBI's step is in response to a list of 331 companies shared by the Corporate Affairs Ministry which are suspected to be shell entities. Securities coming in stage four are permitted to trade only once a month under trade to trade category. These companies may face compulsory delisting by the exchanges, following a forsenic audit to verify their credentials/fundamentals.

Overseas, European stocks were trading lower as disappointing trade data from Germany and China pulled on key sectors and cast doubt on the prospects for those powerhouses' economies. Germany's trade surplus widened slightly in June, though both imports and exports declined. According to data adjusted for seasonal and calendar effects, exports from Germany declined by 2.8% on the month in June. The adjusted trade surplus stood at EUR21.2 billion, just above the EUR20.3 billion recorded in the previous month.

The French current-account deficit widened slightly in June with a decline in exports, the French government said. France's current-account deficit was 2.1 billion euros ($2.48 billion) in June, compared with EUR1.9 billion in May.

Asian stocks took a breather as disappointing Chinese trade data clouded the otherwise upbeat outlook on global growth. China's export growth slowed to 7.2% in July from a year earlier, the weakest pace since February and cooling from an 11.3% rise in June, official data showed on Tuesday. Imports rose 11%, the slowest growth since December and down from a 17.2% rise in the previous month. That left the country with a trade surplus of $46.74 billion for the month, the highest since January, above June's $42.77 billion.

US stocks closed higher yesterday, 7 August 2017 with the S&P 500 ending at a record and the Dow extending its streak of such closing highs to nine with consumer staples and technology shares leading on the day. The Dow Jones Industrial Average rose 25.61 points, or 0.1%, to a new closing record of 22,118.42. The S&P 500 rose 4.08 points to 2,480.9, a rise of 0.2%. The Nasdaq Composite Index climbed 32.21 points, or 0.5%, to 6,383.77.

US Fed speaker St. Louis Fed President James Bullard said the level of short-term interest rates was fine, and that the current level of the policy rate is likely to remain appropriate over the near term.

Mid-Cap, Small-Cap indices outperform Sensex07-Aug-2017 (16:27)

Key benchmark indices registered modest losses on first trading day of the week despite firmness in most of the global stocks. The barometer index, the S&P BSE Sensex, fell 51.74 points or 0.16% to settle at 32,273.67. The Nifty index dropped 9 points or 0.09% at 10,057.40. Domestic stocks gyrated in a small range in a lackluster session of trade.

Trading for the week kicked-off on a positive note as domestic stocks drifted higher in early trade in sync with Asian stocks. Volatility hit bourses in morning trade as indices regained positive zone soon after erasing early gains to hit intraday low in negative zone. Stocks extended gains and hit fresh intraday high in mid-morning trade. Indices hovered near the flat line till mid-afternoon trade after paring gains. Stocks drifted lower in late trade.

The Sensex fell 51.74 points or 0.16% to settle at 32,273.67, its lowest closing level since 3 August 2017. The index gained 70.73 points or 0.22% at the day's high of 32,396.14, its highest level since 3 August 2017. The index fell 89.59 points or 0.28% at the day's low of 32,235.82.

The Nifty index dropped 9 points or 0.09% at 10,057.40, its lowest closing level since 3 August 2017. The index gained 21.70 points or 0.22% at the day's high of 10,088.10, its highest level since 2 August 2017. The index fell 20.05 points or 0.2% at the day's low of 10,046.35.

Tata Steel rose 4.26% ahead of the company's Q1 June 2017 results scheduled today, 7 August 2017. A domestic brokerage expects Tata Steel to report turnaround in bottom line in Q1 June 2017 on a consolidated basis, compared with year ago quarter. Another domestic brokerage expects Tata Steel numbers in Q1 June 2017 to be sequentially weaker due to lower steel prices and higher coking coal costs.

Hindalco Industries rose 1.16% after the company said that its board of directors in a meet on 11 August, 2017 will consider to avail not exceeding Rs 2400 crore working capital facility by way of commercial papers and unsecured debentures etc for aluminium business subject to necessary approval.

The board will also consider to avail not exceeding Rs 2000 crore working capital facility by way of commercial papers and unsecured debentures etc for copper business subject to necessary approval. The announcement was made during market hours today, 7 August 2017.

Wipro fell 0.28%. Wipro announced the availability of Data Discovery Platform, its big data analytics-as-a-service solution on Microsoft Azure. The solution accelerates insight-driven decision making through pre-built applications for specific industries, such as banking and financial services, retail, energy, education and manufacturing. The announcement was made before market hours today, 7 August 2017.

IndusInd Bank slipped 0.64%. IndusInd Bank said it has recently inaugurated its first branch in Faridkot, Punjab. With the inauguration of this branch, the bank now has 101 branches in the state of Punjab. The announcement was made after market hours on Friday, 4 August 2017.

Britannia Industries surged 4.96%. The company's consolidated net profit fell 1.41% to Rs 216.12 crore on 5.63% increase in net sales to Rs 2224.82 crore in Q1 June 2017 over Q1 June 2016. The result was announced during trading hours today, 7 August 2017.

Commenting on the performance, Varun Berry, managing director, Britannia Industries, said that it was a good quarter in the face of challenging market environment and de-stocking in trade due to goods and services tax (GST). Growth in the international business continued to be under pressure due to deteriorating geopolitical situation and currency fluctuations in geographies like Middle East and Africa. Growth in dairy business has also been subdued primarily due to our focus on driving products with high profitability and reducing the company's play in the less profitable commoditized products.

On the commodity front, prices of key raw material continue to remain high with inflation in Q1 standing at around 6%. Meanwhile, the company's accelerated cost efficiency program and endeavour to leverage fixed costs have helped the firm improve its profitability on a sequential basis, he added.

Whirlpool of India rose 2.97% after net profit rose 8.83% to Rs 132.72 crore on 15.07% increase in total income to Rs 1639.54 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 7 August 2017.

The Sensex has fallen 241.27 points or 0.74% in August so far (till 7 August 2017). The Sensex has risen 5,647.21 points or 21.2% in the calendar year 2017 so far (till 7 August 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,555.74 points or 25.49%. From a record high of 32,686.48 hit on 2 August 2017, the barometer index has fallen 412.81 points or 1.26%.

Overseas, European stocks were trading higher and Asian markets gained after strong US hiring data bolstered optimism about economic growth in the world's largest economy. Industrial output in Europe's largest economy, Germany surprisingly fell at the end of the second quarter, data from the country's Economics Ministry showed. In adjusted terms, output declined by 1.1% in June, marking the index's first monthly decline since last December.

US stocks closed higher on Friday, 4 August 2017 with the Dow ending at a record for an eighth straight session following a read on the labor market that came in above expectations, a sign that current valuations may be supported by current economic activity.

On the economic front in US, the July payrolls report showed the US created 209,000 new jobs in July. The government raised its estimate of new jobs created in June to 231,000 from 222,000. Separately, the unemployment rate moved to 4.3% from 4.4%, retouching a 16-year low. The data is seen as crucial for the Federal Reserve as it decides whether to raise interest rates one more time this year.

Market snaps two-day losing streak04-Aug-2017 (16:36)

Trading for the week finished on a positive note as key indices settled with modest gains after a volatile and range bound session of trade as firmness in European stocks perked up sentiment. The barometer index, the S&P BSE Sensex, gained 87.53 points or 0.27% to settle at 32,325.41. The Nifty 50 index rose 52.75 points or 0.53% to settle at 10,066.40. Nifty settled above the psychologically important 10,000 mark after falling below the mark in intraday trade. Indices snapped two-day losing streak. Caution prevailed in global stocks ahead of US nonfarm payroll data for July, which is due later in the global day.

Key indices had opened slightly higher on firm Asian stocks but soon dropped in the red. Stocks swung between gains and losses near the flat line in morning trade. Market languished in the red after extending losses in mid-morning trade. Indices reversed losses in mid-afternoon trade. Stocks extended gains in late trade after European stocks turned positive.

The Sensex gained 87.53 points or 0.27% to settle at 32,325.41, its highest closing level since 2 August 2017. The index gained 114.31 points or 0.35% at the day's high of 32,352.19. The index fell 129.89 points or 0.4% at the day's low of 32,107.99, its lowest level since 28 July 2017.

The Nifty 50 index rose 52.75 points or 0.53% to settle at 10,066.40, its highest closing level since 2 August 2017. The Nifty gained 61.60 points or 0.61% at the day's high of 10,075.25. The index fell 25.30 points or 0.25% at the day's low of 9,988.35, its lowest level since 28 July 2017.

Shares of PSU OMCs surged. Indian Oil Corporation rose 7.99% to Rs 417.80, extending yesterday's gains triggered by better-than-expected Q1 June 2017 results. The result was announced during trading hours yesterday, 3 August 2017. The stock rose 4.6% to settle at Rs 386.90 yesterday, 3 August 2017. IOCL's net profit fell 44.99% to Rs 4548.51 crore on 20.20% rise in total income to Rs 129418.11 crore in Q1 June 2107 over Q1 June 2016.

HPCL jumped 8.65%. The company's net profit fell 55.9% to Rs 924.75 crore on 19.2% rise in net sales to Rs 53384.84 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 4 August 2017.

The company's net profit fell 19.79% to Rs 765.96 crore on 3.12% rise in total income to Rs 12540.20 crore in Q1 June 2017 over Q1 June 2016.

The automotive industry in Q1 June 2017 was impacted due to the impending transition to goods and services tax (GST) from 1 July 2017 with the passenger vehicles sales being adversely impacted in anticipation of a price reduction due to GST and reporting a nominal growth of 4.4%. The sales of heavy commercial vehicle goods segment showed a dip as a result of pre-buying of BS3 vehicles in Q4 March 2017, saturation of replacement demand and production constraints of BS4 models leading to Q1 June 2017 sales being the lowest in past 13 quarters.

Based on a normal monsoon outlook, tractors sales continued to post growth for the months of April and May 2017. However June 2017 witnessed a de-growth of 1.7% owing to the uncertainty with regard to transition to a GST regime. Overall the domestic tractor industry witnessed a growth of 8.5% in Q1 June 2018. The company however, outperformed the industry and grew 13.2% leading to the highest ever domestic tractor market share for a quarter at 45.8%.

TTK Healthcare lost 7.05% after the company reported net loss of Rs 4.47 crore in Q1 June 2017, as compared with net profit of Rs 5.59 crore in Q1 June 2016. TTK Healthcare's total income fell 17.81% to Rs 126.56 crore in Q1 June 2017 over Q1 June 2016. The Q1 result was announced during market hours today, 4 August 2017.

Graphite India jumped 5.46% after net profit spurted 167.97% to Rs 29.45 crore on 26.85% increase in total income to Rs 397.38 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 4 August 2017.

Key indices snapped two-day losing streak today, 4 August 2017. The Sensex had fallen 337.29 points or 1.03% in two sessions to settle at 32,237.88 on 3 August 2017, from a close of 32,575.17 on 1 August 2017. The Sensex has fallen 189.53 points or 0.58% in August so far (till 4 August 2017). The Sensex has risen 5,698.95 points or 21.4% in the calendar year 2017 so far (till 4 August 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,607.48 points or 25.69%.

India Meteorological Department said that actual cumulative area weighted rainfall (mm) for the country as a whole till 2 August 2017 equaled normal rainfall.

Meanwhile, the Banking Regulation (Amendment) Bill 2017 was passed by the lower house of the parliament yesterday, 3 August 2017. It will replace the Non-Performing Assets Ordinance, which came into effect earlier this year. The measure allows the RBI to initiate insolvency resolution process on specific stressed-assets. The RBI would also be empowered to issue other directions for resolution, appoint or approve for appointment, authorities or committees to advise the banking companies for stressed-asset resolution.

Overseas, European stocks reversed losses as investors monitored earnings reports. The Bank of England (BOE) yesterday, 3 August 2017, held interest rates steady at 0.25%, as expected, while largely sticking to its previous assumptions for growth and inflation over the three-year forecast horizon. The Monetary Policy Committee (MPC) voted by a majority of 6-2 to keep rates at record low levels in August. Meantime, the UK's central bank maintained stock levels of government bonds and corporate bonds at £435 billion and £10 billion respectively.

The closely watched Ifo business-sentiment index rose last month to its highest level since German reunification. Germany's economics ministry said that total orders for the important manufacturing sector increased by 1% compared with May, adjusted for seasonal swings and calendar effects.

Asian stocks were mixed ahead of the US employment report.

In US, Dow Jones Industrials Average managed to post slight gains, staying above the 22,000 level and hitting fresh record high while, the S&P 500 index and Nasdaq Composite index closed lower weighed down by Amazon.com, Apple and other top-shelf technology stocks yesterday, 3 August 2017.

Labor Department data showed weekly jobless claims fell last week, pointing to a tightening labour market, while a report from the Institute for Supply Management showed its non-manufacturing index fell to 53.9 last month from 57.4 in June. US employment report for July is due later during the global day.

Market hits lowest closing level in more than a week03-Aug-2017 (16:20)

The Sensex and the Nifty, both, hit their lowest closing level in more than a week. The Nifty 50 index settled slightly above the psychologically important 10,000 mark after falling below that mark for a brief period in late trade.

Indices opened higher but soon slipped into the red in early trade on weak Asian stocks. Stocks extended losses in morning trade. Indices languished in the red till mid-afternoon trade after private survey showed that India's services activity slumped in July. Market extended losses in late trade.

Metal and mining stocks declined after negative economic data in China. Bank stocks extended yesterday's losses triggered by profit booking after the central bank slashed the policy repo rate by 25 basis points, in line with market expectations. GAIL (India) edged higher after the company said it has commenced 100% construction work in Kerala stretch of Kochi-Koottanad-Mangaluru-Bengaluru Pipeline (KKMBPL) project. Colgate-Palmolive (India) surged after reporting decent Q1 results.

The Sensex shed 238.86 points or 0.74% to settle at 32,237.88, its lowest closing level since 25 July 2017. The index gained 25.81 points or 0.08% at the day's high of 32,502.55. It slumped 282.16 points or 0.86% at the day's low of 32,194.58.

The Nifty declined 67.85 points or 0.67% to settle at 10,013.65, its lowest closing level since 25 July 2017. The index fell 0.35 points at the day's high of 10,081.15. It fell 83.25 points or 0.82% at the day's low of 9,998.25.

The S&P BSE Mid-Cap index fell 0.5%. The decline in this index was lower than the Sensex's fall in percentage terms. The S&P BSE Small-Cap index shed 0.95%. The decline in this index was higher than the Sensex's fall in percentage terms.

The market breadth depicted weakness. There were more than two losers for every gainer on the BSE. 1,805 shares fell and 814 shares rose. A total of 154 shares were unchanged.

The total turnover on BSE amounted to Rs 3947.93 crore, higher than turnover of Rs 3037.30 crore registered during the previous trading session.

State Bank of India declined 2.24%. The bank announced that committee of directors of capital raising accorded its approval to allot 20,000 AT 1 Basel III compliant non-convertible, perpetual, subordinated, bonds of face value of Rs 10 lakh each at par bearing coupon of 8.15% per annum payable annually with call option after 5 years or any anniversary date thereafter totalling Rs 2000 crore to various investors. The announcement was made during market hours today, 3 August 2017.

Kotak Mahindra Bank fell 1.32%. In an environment where interest rates are on a downward trajectory, the bank announced that its customers will continue to enjoy 6% interest rate per annum on savings account balances above Rs 1 lakh and up to Rs 1 crore. The announcement was made during market hours today, 3 August 2017.

Maruti Suzuki India declined 0.98%. The company announced the introduction of auto gear shift option in top-end alpha trim premium urban compact vehicle-IGNIS. The petrol version is priced at Rs 7.01 lakh while diesel version is priced at Rs 8.08 lakh ex-showroom Delhi. The announcement was made during market hours today, 3 August 2017.

GAIL (India) gained 0.16% after the company said it has commenced 100% construction work in Kerala stretch of Kochi-Koottanad-Mangaluru-Bengaluru Pipeline (KKMBPL) project. GAIL started its foray into the state of Kerala with KKMBPL with a total project cost of Rs 3263 crore. Despite the initial hurdle, the Kerala stretch of the project will gain impetus with commencement of 100% construction work.

This pipeline will form part of the National Gas Grid and it will go a long way in fulfilling the vision of the Government of India towards building a gas based economy, the company said. The announcement was made after market hours yesterday, 2 August 2017.

Wipro fell 1.6%. The company and Tricentis announced a partnership for quality engineering. This partnership with Tricentis will strengthen Wipro's quality engineering and testing services capabilities, by integrating Tricentis Tosca, a continuous testing platform, with Wipro AssureNXT, a managed services QA platform combined with the capabilities of Wipro HOLMES Artificial Intelligence Platform as a part of the broader automaton ecosystem. The announcement was made after market hours yesterday, 2 August 2017.

Lupin dropped 3.8%. The company said that it has received final approval for its Rosuvastatin Calcium Tablets, 5mg, 10mg, 20mg and 40mg from the US drug regulator to market a generic version of IPR Pharmaceuticals, Inc's Crestor tablets. The announcement was made during market hours today, 3 August 2017.

It is indicated for the treatment of adult patients with hypertriglyceridemia, primary dysbetalipoproteinemia (type III hyperpoproteinemia) and adult patients with homozygous familial hypercholesterolemia. Crestor tablets had annual US sales of $3.4 billion as per IMS MAT March 2017 data.

Indian Oil Corporation jumped 4.6%. The company's net profit fell 44.99% to Rs 4548.51 crore on 20.19% rise in total income to Rs 129418.11 crore in Q1 June 2107 over Q1 June 2016. The announcement was made during market hours today, 3 August 2017. Average gross refining margin fell to $4.32 per barrel in Q1 June 2017 from $9.98 per barrel in Q1 June 2016.

The company said it accounted for budgetary support of Rs 876.38 crore in Q1 June 2017 compared with 1331.69 crore in Q1 June 2016 as revenue grants and included in sales/income from operations and no under-realization is suffered by the company on this account.

Colgate-Palmolive (India) rose 4.25% after net profit rose 8.48% to Rs 136.38 crore on 3.60% decline in net sales to Rs 969.43 crore in Q1 June 2017 over Q1 June 2016. The result was announced during trading hours today, 3 August 2017. Colgate-Palmolive (India) said net sales decreased largely due to destocking in the trade channel ahead of the implementation of goods and services tax (GST). Volume declined 5% during the quarter.

On the macro front, Markit Economics said today, 3 August 2017, business conditions in India's service economy deteriorated markedly in July following the implementation of the goods and services tax (GST). Output and new work declined for the first time since January, with rates of reduction the quickest since September 2013. This had an adverse effect on the labour market, with employment contracting over the month.

The seasonally adjusted Nikkei India Services PMI Business Activity Index plunged from June's eight-month high of 53.1 to 45.9 in July, its lowest level since September 2013. The headline figure signalled the first downturn in output since the start of the year, and one that was marked. The seasonally adjusted Nikkei India Composite PMI Output Index fell sharply from 52.7 in June to 46.

Overseas, European stocks reversed intraday losses. Euro zone businesses started the second half of 2017 with robust growth although the pace slowed slightly from June as a loss of momentum in Germany and France dragged on activity, a survey showed. IHS Markit's final composite PMI for the euro zone was 55.7 in July, down from June's 56.3 and a flash estimate of 55.8.

Asian stocks declined after surging to the highest level in almost 10 years, with investors assessing the strength of company earnings before American labor-market data provides the latest clues on the health of global growth. China's services sector expanded at a slightly slower pace in July as new business growth eased, a private business survey showed. The Caixin/Markit services purchasing managers' index (PMI) dropped to 51.5 in July from 51.6 in June.

Japan's services sector expanded at a slower pace in July as new orders eased, a private survey showed. The Markit/Nikkei Japan Services PMI fell to a seasonally adjusted 52 from 53.3 in June.

In US, the Dow Jones Industrials Average broke above the 22,000 threshold for the first time ever yesterday, 2 August 2017, putting the blue-chip index on track for its seventh straight daily risk, though the broader market pulled back on weakness in energy shares. Private sector hiring remained strong in July as employers added 178,000 jobs, ADP reported. ADP revised June's gain to 191,000.

Market registers modest losses02-Aug-2017 (16:31)

Key benchmark indices settled with modest losses as profit booking emerged after the Reserve Bank of India (RBI) cut policy rate by 25 basis points after a monetary policy meet today, 2 August 2017, in line with market expectations. The barometer index, the S&P BSE Sensex declined 98.43 points or 0.3% to settle at 32,476.74. The Nifty 50 index lost 33.15 points or 0.33% to settle at 10,081.50. Weakness in European stocks also weighed on sentiment.

Indices opened higher and hit fresh record highs in early trade tracking firm Asian stocks. Market hovered in the positive terrain near the flat line in morning trade. Indices traded with small losses after slipping into the red till mid-afternoon trade amid drop in European stocks. Stocks extended losses in late trade after the RBI cut policy rate by 25 basis points in line with expectations.

Bank stocks declined after the RBI cut policy rate by 25 basis points. Bajaj Auto declined after reporting drop in total sales in July 2017. Hero MotoCorp gained after the company reported a 17.1% rise in total two-wheeler sales in July 2017.

The Sensex declined 98.43 points or 0.3% to settle at 32,476.74, its lowest closing level since 28 July 2017. It gained 111.31 points or 0.34% at the day's high of 32,686.48. It fell 180.28 points or 0.55% at the day's low of 32,394.89.

The Nifty lost 33.15 points or 0.33% to settle at 10,081.50, its lowest closing level since 31 July 2017. It gained 23.20 points or 0.22% at the day's high of 10,137.85. It fell 60.45 points or 0.59% at the day's low of 10,054.20.

The S&P BSE Mid-Cap index fell 0.3%, matching the Sensex's decline in percentage terms. The S&P BSE Small-Cap index shed 0.07%. The decline in this index was lower than the Sensex's fall in percentage terms.

The breadth, indicating the overall health of the market, was weak. On the BSE, 1,593 shares fell and 1,061 shares rose. A total of 179 shares were unchanged.

The total turnover on BSE amounted to Rs 3035.08 crore, lower than turnover of Rs 3198.73 crore registered during the previous trading session.

RBI said that the experience with the Marginal Cost of Funds Based Lending Rate (MCLR) system introduced in April 2016 for improving the monetary transmission has not been entirely satisfactory, even though it has been an advance over the Base Rate system. An internal Study Group has been constituted by the Reserve Bank of India (RBI) to study the various aspects of the MCLR system from the perspective of improving the monetary transmission and exploring linking of the bank lending rates directly to market determined benchmarks. The Group will submit the report by 24 September 2017.

Further, a quick scrutiny of the Base Rate of some banks post the introduction of MCLR suggests that it has moved significantly less than MCLR. While the extent of change in Base Rate may not necessarily mirror the revision in MCLR, the rigidity of Base Rate is a matter of concern for an efficient transmission of monetary policy to the real economy. Given a large part of the floating rate loan portfolio of banks is still anchored on the Base Rate, the RBI will be exploring various options in the near future to make the Base Rate more responsive to changes in cost of funds of banks.

L&T declined 1.04%. The company announced that it has bagged a Rs 3375 crore order from Metro Express, which is owned by the Government of Mauritius to design and build an integrated light rail based urban transit system in the African island nation. The announcement was made during market hours today, 2 August 2017. The project is scheduled to be completed in 48 months.

Pharma major Lupin gained 1.6%. The company announced that consolidated net profit fell 59.39% to Rs 358.10 crore on 12.32% decline in net sales to Rs 3806.80 crore in Q1 June 2017 over Q1 June 2016. The announcement was made during market hours today, 2 August 2017.

Commenting on the results, Nilesh Gupta, Managing Director, Lupin said that results have been below company's own expectations on account of higher than anticipated price erosion in select products like Glumetza, disruption on count of GST implementation in India and appreciation in the rupee. The focus remains on building complex generic pipeline, operational excellence, regulatory compliance and building a differentiated specialty business, he added.

Separately, the company announced that it has received final approval for its Fluocinonide Topical Ointment USP, 0.05% from the United States Food and Drug Administration (FDA) to market a generic version of County Line Pharmaceuticals, LLC's Lidex Ointment, 0.05%.

Lupin's Fluocinonide Topical Ointment USP, 0.05% is AB rated generic equivalent of County Line Pharmaceuticals, LLC's Lidex Ointment, 0.05%. It is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses. Lidex Ointment had annual US sales of $40.3 million as per IMS MAT March 2017. The announcement was made after market hours yesterday, 1 August 2017.

Coal India declined 0.77%. The company reported production and offtake figures for July 2017, which were close to their targets for the month. Coal India said that production of the company and its subsidiary companies on provisional basis was 97% of targeted production at 36.64 million tonnes in July 2017. Offtake was 99% of target at 44.33 million tonnes in July 2017. The announcement was made after market hours yesterday, 1 August 2017.

Power Grid Corporation of India lost 1.23%. The company's net profit rose 13.9% to Rs 2052.41 crore on 17.3% rise in net sales to Rs 7181.35 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 1 August 2017.

Bajaj Auto dropped 0.74% after total sales dropped 7% to 3.07 lakh units in July 2017 over July 2016. Domestic sales fell 6% to 1.86 lakh units in July 2017 over July 2016. Exports fell 8% to 1.21 lakh units in July 2017 over July 2016. The announcement was made before market hours today, 2 August 2017.

Hero MotoCorp gained 2.12% after the company said its total two-wheeler sales rose 17.1% to 6.23 lakh units in July 2017 over July 2016, despite sluggish sales for the first few days of the month due to the transition to GST. The announcement was made after market hours yesterday, 1 August 2017.

On the macro front, the Reserve Bank of India (RBI) said that on the basis of an assessment of the current and evolving macroeconomic situation, the Monetary Policy Committee (MPC) decided to reduce the policy repo rate under the liquidity adjustment facility (LAF) by 25 basis points from 6.25% to 6% with immediate effect. The decision by the RBI was taken at its third bi-monthly policy meeting today, 2 August 2017.

Consequently, the reverse repo rate under the LAF stands adjusted to 5.75%, and the marginal standing facility (MSF) rate and the Bank Rate to 6.25%. The decision of the MPC is consistent with a neutral stance of monetary policy in consonance with the objective of achieving the medium-term target for consumer price index (CPI) inflation of 4% within a band of +/- 2%, while supporting growth.

Meanwhile, Arvind Panagariya, the first vice-chairman of Niti Aayog, reportedly announced yesterday, 1 August 2017, that he will step down from the post and return to academia in the United States. The decision is understood to have followed the economist having informed the government a couple of months ago that he would like to return to Columbia University.

The Government of India has garnered over Rs 1.8 lakh crore in direct tax till 15 July 2017 in the current FY 2018, representing a growth of 21.4% over the same period last year. The current growth rate is higher than the target rate of 15.32% required to achieve the budget estimate. Through direct taxes, the government aims to collect Rs 9.8 lakh crore in FY 2018.

Overseas, European stocks declined weighed down by a fall among mining stocks and banks. The prices of goods leaving the eurozone's factory gates fell in June for the third month in four, as inflation looks set to remain weak despite a sustained pickup in economic growth. The European Union's statistics agency said that producer prices fell 0.1% from May, having also declined in that month and in March.

Most Asian stocks rose helped by strong results from Apple. US stocks closed higher yesterday, 1 August 2017 and the Dow Jones Industrials Average racked up a fifth straight record high powered by Goldman Sachs, JPMorgan Chase and other banks.

Economic data showed US consumer spending barely rose in June as income failed to increase for the first time in seven months. Also, American manufacturers tapped on the brakes lightly in July but were still expanding near the fastest pace in three years. The Institute for Supply Management said its manufacturing index fell slightly to 56.3% last month after reaching a three-year high of 57.8% in June.

Market settles at record high01-Aug-2017 (16:26)

Key benchmark indices settled with small gains as positive cues from global stocks supported gains on the bourses. The barometer index, the S&P BSE Sensex, rose 60.23 points or 0.19% to settle at 32,575.17. The Nifty 50 index advanced 37.55 points or 0.37% to settle at 10,114.65.

Both the Sensex, and the Nifty, hit record closing high. Private survey showing Indian manufacturing activity contracting in July kept gains of indices under check.

After opening with a positive bias on firm Asian stocks, key indices traded in a narrow range in positive terrain till morning trade. Indices dropped into the negative terrain in mid-morning trade. Later, indices recovered and swung between gains and losses near the flat line till mid-afternoon trade. Market regained strength and hit fresh intraday high in late trade.

The Sensex rose 60.23 points or 0.19% to settle at 32,575.17, a record high. The index gained 117.08 points or 0.36% at the day's high of 32,632.02. It fell 52.69 points or 0.16% at the day's low of 32,462.25.

The Nifty advanced 37.55 points or 0.37% to settle at 10,114.65, a record high. The index gained 51.50 points or 0.51% at the day's high of 10,128.60. It fell 11.35 points or 0.11% at the day's low of 10,065.75.

The Reserve Bank of India's (RBI) policy meeting is scheduled tomorrow, 2 August 2017. The central bank is widely expected to cut the policy repo rate by 25 basis points (bps) to give impetus to growth in the wake of benign consumer inflation.

Maruti Suzuki India rose 1.96% after the company said that total sales rose 20.6% to 1.65 lakh units in July 2017 over July 2016. Domestic sales rose 22.4% to 1.54 lakh units in July 2017 over July 2016. Exports rose 0.1% to 11,345 units in July 2017 over July 2016. The announcement was made during market hours today, 1 August 2017.

Tata Motors rose 0.54% after the company said its total passenger and commercial vehicle total sales rose 7% to 46,216 units in July 2017 over July 2016. Domestic sales grew by 13% to 42,775 units in July 2017 over July 2016. The announcement was made during market hours today, 1 August 2017.

Eicher Motors advanced 4.65% after the company said its total motorcycle sales rose 21% to 64,459 units in July 2017 over July 2016. Exports grew by 4% to 1,302 units in July 2017 over July 2016. The announcement was made during market hours today, 1 August 2017.

Mahindra & Mahindra (M&M) rose 1.77% after the company announced growth in auto and tractor sales in July. Total auto sales rose 6% to 41,747 units in July 2017 over July 2016. Domestic sales rose 13% to 39,762 units in July 2017 over July 2016. Exports tumbled 52% to 1,985 units in July 2017 over July 2016.

Total tractor sales gained 7% to 18,832 units in July 2017 over July 2016. Domestic sales rose 7% to 17,682 units in July 2017 over July 2016. Exports rose 4% to 1,150 units in July 2017 over July 2016. The announcement was made during market hours today, 1 August 2017.

Index heavyweight and housing finance major HDFC dropped 0.66% after the company said that HDFC Life and Max Group Entities were unable to obtain the requisite regulatory approvals to consummate the proposed merger of their Life Insurance Business through a composite scheme of arrangement and other transactions contemplated under the said definitive agreements and hence the definitive agreements stand terminated from 31 July 2017 and parties will not be pursuing the proposed merger under the same. The announcement was made after market hours yesterday, 31 July 2017.

HDFC had announced vide a press release dated 8 August 2016 the merger of their Life Insurance Business through a composite scheme of arrangement and had entered into certain definitive agreements to implement the same subject to satisfaction of various conditions, including the receipt of necessary approvals.

Tech Mahindra rose 4.56% after consolidated net profit rose 34.27% to Rs 791.79 crore on 0.17% growth in total revenue to Rs 7746.77 crore in Q1 June 2017 over Q4 March 2017. The result was announced after market hours yesterday, 31 July 2017.

InterGlobe Aviation fell 0.14%. The company's net profit rose 37.07% to Rs 811.15 crore on 25.64% rise in net sales to Rs 5752.91 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 31 July 2017.

InterGlobe Aviation said it reported the highest quarterly profit ever. The company's EBITDAR (earnings before finance income and cost, tax, depreciation, amortization and aircraft and engine rentals) rose 26.3% to Rs 19618 crore in Q1 June 2017 over Q1 June 2016.

Hindalco Industries advanced 2.92% at Rs 225.85 after a foreign brokerage firm reportedly initiated coverage on the stock with an outperform rating with 12-month price target at Rs 270. Hindalco continues to enjoy a favourable position on the cost curve, the brokerage firm said. Low costs of production will ensure steady free cash flow generation in India and domestic coal prices remaining benign will also aid the company, it said.

Tata Steel rose 0.78% after the company announced that it has completed the sale of its 42 inch and 84 inch pipe mills-Hartlepool SAW pipe mills to Liberty House Group. The announcement was made during market hours today, 1 August 2017. Tata Steel will retain its 20 inch tube mills at the same Hartlepool site, where a further 270 people work.

Bharti Airtel gained 0.49% after Airtel Payments Bank, a subsidiary of Bharti Airtel said Airtel Payments Bank and HPCL has formed a strategic partnership to boost India's digital payments ecosystem. The announcement was made during market hours today, 1 August 2017.

On the macroeconomic data front, Markit Economics said today, 1 August 2017 that the introduction of the goods & services tax (GST) weighed heavily on the Indian manufacturing industry in July. New orders and output decreased for the first time since the demonetisation-related downturn recorded in December last year, with rates of contraction the steepest since February 2009 in both cases. At 47.9 in July, down from 50.9 in June, the Nikkei India Manufacturing Purchasing Managers' Index (PMI) was at its lowest mark since February 2009 and highlighted the first deterioration in business conditions in 2017 so far.

Meanwhile, the combined index of eight core industries, comprising 40.27% of the weight of items included in the index of industrial production (IIP) rose 0.4% in June 2017 over June 2016. Its cumulative growth during April to June, 2017-18 was 2.4%.

India's fiscal deficit reached Rs 4.42 lakh crore during the first quarter ended June of the current fiscal year 2017-18 (FY 2018) or 80.8% of the budgeted target for FY 2018, according to data released by the Controller General of Accounts, Ministry of Finance.

GDP growth rate of India will remain in the range of 6.5-7.5% over the next 12-18 months and GST will support the momentum for faster growth, reported a study conducted by a leading research agency, Moody's. According to the US-based agency estimates, the economy will grow 7.5% in 2016-17 and 7.7% in 2017-18. While it forecasted that the economic growth will gradually increase to around 8% over the next 3-4 years.

Overseas, European stocks gained as factories in the euro zone started the second half with buoyant growth, which although slightly weaker than previously estimated was broad-based and appears to be sustainable, a survey showed. IHS Markit's final manufacturing Purchasing Managers' Index dipped to 56.6 from June's six-year high of 57.4, slightly down from a flash estimate of 56.8.

Eurozone economic growth gathered pace in the three months to June. The European Union's statistics agency said that eurozone gross domestic product was 0.6% higher in June than in the three months through March, and 2.1% higher than in the second quarter of 2016.

Most Asian stocks gained on rising confidence in global growth. Growth in China's manufacturing quickened in July, a private survey showed, as output and new orders rose at the fastest pace since February on strong export sales. The Caixin/Markit Manufacturing PMI rose to 51.1 in July, above the 50-point mark that separates growth from contraction, and well ahead of the 50.4 in June.

Japan's manufacturing activity grew in July at the slowest pace in eight months as export demand weakened, a private survey showed. The Markit/Nikkei Japan Final Manufacturing PMI dipped to 52.1 in July on a seasonally adjusted basis, slightly weaker than a preliminary reading of 52.2 and a final 52.4 in the previous month.

In US, the Dow Jones Industrials Average finished at an all-time high yesterday, 31 July 2017, but the broader market's gains were hobbled by losses in the technology sector.

Sensex, Nifty hit record closing high31-Jul-2017 (16:27)

Trading for the week started on a positive note as key benchmark indices settled with modest gains. The barometer index, the S&P BSE Sensex, rose 205.06 points or 0.63% to settle at 32,514.94. The Nifty 50 index advanced 62.60 points or 0.63% to settle at 10,077.10. Both the Sensex and the Nifty, settled at record closing high.

Sentiment was positive on market buzz that the Reserve Bank of India (RBI) could cut rates in its meet scheduled later this week on Wednesday, 2 August 2017. There are expectations for a 25 basis points (bps) rate cut by the central bank to give impetus to growth in the wake of benign inflation.

Firmness in most global stocks also supported gains on domestic bourses. After opening with small gains, key indices hovered within narrow range in the positive terrain till mid-morning trade. Later, indices extended intraday gains as the day's trade progressed.

Bank stocks were mostly higher ahead of the Reserve Bank of India's (RBI) policy meet scheduled on Wednesday, 2 August 2017. NTPC edged higher after declaring good Q1 numbers. L&T advanced after reporting strong Q1 results after market hours on Friday, 28 July 2017. Pharma major Lupin declined after the company announced the completion of prior approval inspection carried out by the US drug regulator at its Aurangabad manufacturing facility with one 483 observation.

The Sensex rose 205.06 points or 0.63% to settle at 32,514.94, a record high. The barometer index gained 236.62 points or 0.73% at the day's high of 32,546.50. The index gained 14.57 points or 0.04% at the day's low of 32,324.45.

The Nifty advanced 62.60 points or 0.63% to settle at 10,077.10, a record high. The index gained 71.40 points or 0.71% at the day's high of 10,085.90. The index rose 2.45 points or 0.02% at the day's low of 10,016.95.

High Grade Copper for September 2017 delivery was currently up 0.94% at $2.902 per pound on the COMEX.

Bank stocks were mostly higher ahead of the Reserve Bank of India's (RBI) policy meet scheduled on Wednesday, 2 August 2017. There are expectations for a 25 basis points (bps) rate cut by the central bank to give impetus to growth in the wake of benign inflation.

State Bank of India rose 4.46% after the bank said that it has introduced a two tier saving bank interest rate from 31 July 2017. While balance above Rs 1 crore will continue to earn interest of 4% per annum, interest of 3.5% per annum shall be offered on balances of Rs 1 crore and below. The announcement was made during market hours today, 31 July 2017.

The decline in the rate of inflation and high real interest rates are the primary considerations warranting a revision in the rate of interest on saving bank deposits, bank said.

The revision in saving bank rate would enable the bank to maintain the Marginal Cost of Funds based Lending Rate (MCLR) at the existing rates, which was cut by 90 basis points from 1 January 2017 after large inflows post demonetization by the government.

Central Bank of India lost 0.28% after the bank reported net loss of Rs 576.76 crore in Q1 June 2017, compared with net loss of Rs 599.81 crore in Q1 June 2016. Total income rose 3.1% to Rs 6870.78 crore in Q1 June 2017 over Q1 June 2016. The result was announced on Saturday, 29 July 2017.

The bank's gross non-performing assets (NPAs) stood at Rs 31398.47 crore as on 30 June 2017 as against Rs 27251.33 crore as on 31 March 2017 and Rs 25107.47 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 18.23% as on 30 June 2017 as against 17.81% as on 31 March 2017 and 13.52% as on 30 June 2016. The ratio of net NPAs to net advances stood at 11.04% as on 30 June 2017 as against 10.2% as on 31 March 2017 and 8.17% as on 30 June 2016.

The bank's provisions and contingencies declined 17.8% to Rs 1269.02 crore in Q1 June 2017 over Q1 June 2016.

NTPC gained 0.18% after net profit rose 12% to Rs 2618.17 crore on 4.3% rise in net sales to Rs 19879.32 crore in Q1 June 2017 over Q1 June 2016. The result was announced on Saturday, 29 July 2017.

Separately, NTPC's board approved the issue of secured/unsecured, redeemable, taxable/tax-free, cumulative/non-cumulative, non-convertible debentures upto Rs 15000 crore during the period commencing from the date of passing of Special Resolution in the ensuing Annual General Meeting till completion of one year thereof or the date of next Annual General Meeting in the financial year 2018-19 whichever is earlier.

With this, the commercial capacity of Kudgi Super Thermal Power Project, NTPC and NTPC group has become 800 MW, 41,322 MW and 48,288 MW respectively. The announcement was made during market hours today, 31 July 2017.

Larsen & Toubro (L&T) gained 2.85% after consolidated net profit rose 50.6% to Rs 1028.30 crore on 9.59% rise in net sales to Rs 23810.86 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours on Friday, 28 July 2017.

L&T won new orders worth Rs 26352 crore at consolidated level in Q1 June 2017 in a challenging business environment. International orders at Rs 7885 crore, constituted 30% of the total order inflow. Major orders during the quarter were secured by infrastructure segment. Consolidated order book of the group stood at Rs 262860 crore as on 30 June 2017, marginally higher by 2% on a year on year basis. International order book constituted 26% of the total order book.

L&T said that prospects of a good monsoon, rural wage growth, pay hike for state government employees, lower lending rates and a modest pick-up in external demand are expected to catalyse GDP growth. The company said its focus continues to be on selective order intake, working capital reduction, cost optimization through strengthening execution operational efficiencies and productivity enhancement through digitalization and other initiatives. The company is optimistic of its growth aspirations in the medium term as the economic outlook improves.

Shriram Transport Finance Company gained 5% after net profit rose 19.94% to Rs 448.68 crore on 7.88% increase in total revenue to Rs 2899 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 31 July 2017.

Tech Mahindra was up 1.35%. The company's consolidated net profit rose 34.27% to Rs 791.79 crore on 0.17% growth in total revenue to Rs 7746.77 crore in Q1 June 2017 over Q4 March 2017. The result was announced after market hours today, 31 July 2017.

Lupin declined 2.9% after the company announced the completion of prior approval inspection carried out by the US drug regulator at its Aurangabad manufacturing facility with one 483 observation. The observation was procedural in nature and corrected during the inspection itself. The announcement was made during market hours today, 31 July 2017.

Overseas, European stocks gained with shares of miners advancing on the last day of trade in July. Euro zone inflation was stable in July but its core measure, which is closely watched by the European Central Bank, went up to a four-year high flash estimates released by Eurostat showed. In a separate release, the European Union's statistics office said unemployment in the 19-country currency bloc dropped to its lowest level since 2009.

Most Asian stocks settled higher after a muted opening as what was a strong July for most markets in the region comes to a close. Meanwhile, there was another missile launch by North Korea late Friday, 28 July 2017, and experts said it put the continental US in range of Pyongyang's arsenal.

On the data front, growth in China's manufacturing sector slowed marginally in July. The official Purchasing Managers' Index (PMI) stood at 51.4 in July, down from the previous month's 51.7 but still well above the 50-point mark that separates growth from contraction on a monthly basis.

Japanese industrial production rose 1.6% on month in June, the Ministry of Economy, Trade and Industry said. The increase came after a 3.6% drop in May. Industrial output rose 1.9% in the April-June period from the previous quarter.

In US, the S&P 500 index and Nasdaq Composite index both finished slightly lower on Friday, 28 July 2017 for weekly losses as Amazon.com shares slumped on disappointing earnings, while the Dow Jones Industrials Average finished at a record for a weekly gain.

On the data front in US, a second-quarter reading on gross domestic product rose 2.6%, below the expectations. First-quarter GDP growth was revised to 1.2% from 1.4%. The final reading of the University of Michigan's consumer-sentiment survey for July was lifted to 93.4 from a preliminary 93.1. That's a decline, however, from June's level of 95.1.

Market settles with small losses28-Jul-2017 (16:11)

Key benchmark indices closed the session with small losses. The barometer index, the S&P BSE Sensex, fell 73.42 points or 0.23% to settle at 32,309.88. The Nifty 50 index declined 6.05 points or 0.06% to settle at 10,014.50. The Nifty closed above the 10,000 mark. It had opened below that mark and traded below that level till late trade.

The Sensex fell 73.42 points or 0.23% to settle at 32,309.88, its lowest closing level since 25 July 2017. The index lost 278.64 points or 0.86% at the day's low of 32,104.66. It lost 1.94 points at the day's high of 32,381.36.

The Nifty declined 6.05 points or 0.06% to settle at 10,014.50, its lowest closing level since 25 July 2017. The index lost 76.05 points or 0.75% at the day's low of 9,944.50. It rose 5.50 points or 0.05% at the day's high of 10,026.05.

ICICI Bank lost 3.6% after net profit fell 8.21% to Rs 2049 crore on 0.52% growth in total income to Rs 16847.04 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 27 July 2017.

ICICI Bank's gross non-performing assets (NPAs) stood at Rs 43147.64 crore as on 30 June 2017 as against Rs 42551.54 crore as on 31 March 2017 and Rs 27562.93 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 7.99% as on 30 June 2017 as against 7.89% as on 31 March 2017 and 5.28% as on 30 June 2016. The ratio of net NPAs to net advances stood at 4.86% as on 30 June 2017 as against 4.89% as on 31 March 2017 and 3.01% as on 30 June 2016. The bank's Net Interest Income (NII) grew by 8% to Rs 5590 crore in Q1 June 2017 over Q1 June 2016.

ITC rose 0.9% after net profit rose 7.4% to Rs 2561 crore on 4.3% growth in gross revenue to Rs 13722 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 27 July 2017.

ITC said that it has delivered a steady performance in Q1 June 2017 against the backdrop of a challenging business environment marked by continuing pressure on the legal cigarette industry, sluggishness in demand for FMCG products exacerbated by destocking in trade channels ahead of implementation of GST. Also, there was subdued demand conditions and unabsorbed capacity in the domestic paperboard industry and lower crop output and adverse quality of the Andhra leaf tobacco crop due to draught in 2016.

The ban imposed by the Supreme Court on sale of liquor at outlets in close proximity to highways adversely impacted some of the company's hotel properties besides reducing offtake of carton packaging by customers in the liquor industry.

The company said that increase in excise duty on cigarette industry in February 2017, the revised rates under the GST regime and revised rates of compensation cess announced by GST Council will increase the tax burden of the cigarette business by 20%.

ONGC was up 0.76%. The company's net profit fell 8.21% to Rs 3885 crore on 7.2% increase in gross revenue to Rs 19073 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 27 July 2017.

ONGC's net nominated crude oil realisation rose to $51.03 per barrel in Q1 June 2017 from $46.10 per barrel in Q1 June 2016.

Dr Reddy's Laboratories' consolidated net profit declined 56.61% to Rs 66.60 crore on 2.5% rise in net sales to Rs 3315.90 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours yesterday, 27 July 2017. The stock had dropped 3.29% to Rs 2,621.45 yesterday, 27 July 2017 post announcement of results.

Dr Reddy's Laboratories' consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) declined 15.56% to Rs 336 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin contracted to 10.1% in Q1 June 2017, from 12.3% in Q1 June 2016.

Meanwhile, Dr Reddy's Laboratories and CHD Bioscience Inc., a privately-held biopharmaceutical company, announced a global licensing agreement for the clinical development and commercialization of Dr Reddy's phase III clinical trial candidate, DFA-02. The announcement was made after market hours yesterday, 27 July 2017.

It is intended to be used for the prevention of surgical site infections, following non-emergency, elective colorectal surgery. Phase II studies for DFA-02 have been successfully completed, and the product will be transitioning to pivotal Phase III registration studies.

Under the terms of the agreement, Dr Reddy's would receive equity in CHD valued at $30 million upon an initial public offer (IPO) of CHD or a minimum of $30 million in cash within 18 months of execution of the agreement. Dr Reddy's will also receive additional milestone payments of $40 million upon US drug regulator's approval. In addition, CHD will pay Dr Reddy's double-digit royalties on sales and commercial milestones.

Idea Cellular advanced 3.13%. The company reported consolidated net loss of Rs 814.90 crore in Q1 June 2017 compared with net profit of Rs 220.40 crore in Q1 June 2016. The result was announced after market hours yesterday, 27 July 2017.

Idea Cellular's total income fell 14.34% to Rs 8181.70 crore in Q1 June 2017 over Q1 June 2016. EBITDA (earnings before interest, taxes, depreciation and amortization) margin fell to 25.6% in Q1 June 2017 from 29.1% in Q1 June 2016.

The financial stress in the mobile sector remains at its peak, post the introduction of aggressive unlimited bundled plans by new entrant forcing other operators to follow. Resultantly, all 'Telecom Service Providers' are reporting steep decline in revenues, profitability and cash flows and all but one Indian wireless operator quarterly results are likely to show significant financial losses, company added.

Among other news, the Lok Sabha yesterday, 27 July 2017, passed the Companies Act (Amendment) Bill, 2016 that seeks to make significant changes to the 2013 law to remove complexities and improve ease of doing business, strengthen corporate governance standards and prescribes strict action against defaulting companies. The bill will now go to the Rajya Sabha.

The India Meteorological Department (IMD) in its weather report yesterday, 27 July 2017 said that for the country as a whole, cumulative rainfall during this year's southwest monsoon season has so far upto 26 July is 5% above the long period average (LPA).

Overseas, European bourses edged lower as corporate earnings continued to dominate market movements and as fresh political tensions in Washington dampened market sentiment. Markets were jittery after the latest attempt to repeal the Obama-era healthcare act failed in Washington. At least three Republicans voted against the bill, which needed a simple majority to pass in the Senate. President Donald Trump reacted to the vote by saying the three had let the American people down.

Most Asian stocks declined after US tech shares retreated from recent rallies, though optimism about US corporate earnings and the global economy underpinned overall sentiment. US equities closed mixed yesterday, 27 July 2017 after the technology sector rolled over.

Market ends on flat note27-Jul-2017 (16:23)

Key benchmark indices settled near the flat line in a volatile session. The barometer index, the S&P BSE Sensex, rose 0.84 points to settle at 32,383.30. The Nifty 50 index fell 0.10 points to settle at 10,020.55. Both the Sensex, and the Nifty, had hit record high in mid-morning trade.

The key indices had opened the session higher and traded with modest gains till afternoon trade, tracking firmness in global markets. Later, they trimmed intraday gains and hovered with small gains till mid-afternoon trade. Key indices erased all the intraday gains towards the late trade to settle near the flat line.

A bout of volatility was witnessed as traders rolled over positions in the futures & options (F&O) segment from July 2017 series to August 2017 series. The July 2017 derivatives contract expired today, 27 July 2017.

Overseas, European stocks were mixed as investors were still digesting the Federal Reserve's latest policy decision amid a fresh batch of corporate earnings.

Asian stocks edged higher following the Federal Reserve's decision to leave interest rates unchanged and as a slew of corporate earnings began coming through.

US equities closed higher yesterday, 26 July 2017, on the back of strong earnings and following the Federal Reserve's decision to keep interest rates unchanged.

US Federal Reserve kept its benchmark interest rate unchanged after the conclusion of a two-day policy meeting yesterday, 26 July 2017. The Fed gave no clear signal about the chances for another increase this year or about any concerns about low inflation. But the central bank did confirm that it plans to begin to reduce its massive bond holdings relatively soon. The Fed had raised the target range for its federal funds rate by 25 basis points to 1% to 1.25% during its June 2017 meeting.

Back home, the Sensex rose 0.84 points to settle at 32,383.30. The index rose 290.20 points, or 0.90% at the day's high of 32,672.66. The index fell 57.13 points, or 0.18% at the day's low of 32,325.33.

The Nifty 50 index fell 0.10 points to settle at 10,020.55. The index rose 94.20 points, or 0.94% at the day's high of 10,114.85. The index fell 15.15 points, or 0.15% at the day's low of 10,005.50.

Among other barometers, the S&P BSE Mid-Cap index declined 0.55%. The S&P BSE Small-Cap index lost 0.52%. Both these indices underperformed the Sensex.

The breadth, indicating the overall health of the market, was weak. On the BSE, 1,846 shares declined and 880 shares rose. A total of 150 shares were unchanged.

The total turnover on BSE amounted to Rs 3963.41 crore, lower than turnover of Rs 4052.80 crore registered during the previous trading session.

State Bank of India (SBI) rose 0.86% to Rs 298.30 after the bank announced that its board approved extension of validity period to raise the remaining Additional Tier I capital to the tune of Rs 2000 crore till 31 March 2018 and accordingly authorized bank to raise upto Rs 2000 crore Additional Tier I capital, by way of issue of Basel III compliant perpetual debt instruments in USD and/or INR, at par, through private placement to overseas and/or Indian investors, in such number of tranches, at such times as may be considered appropriate and on such coupons as may be decided at the time of actual issuance. The announcement was made after market hours yesterday, 26 July 2017.

The board had earlier authorized SBI to raise Additional Tier I capital upto Rs 11100 crore till 31 March 2017. The bank has raised Additional Tier I capital in domestic and overseas market to the tune of Rs 9100 crore during the financial year 2016-2017.

Axis Bank fell 0.78% at Rs 524.70 after the bank said it has entered into a Share Purchase Agreement (SPA) with Jasper Infotech (Snapdeal), to acquire 100% equity capital of Accelyst Solutions (Accelyst) & Freecharge Payment Technologies (FPTPL) (Accelyst and FPTPL collectively referred to as Freecharge), subject to receipt of requisite regulatory approvals, including from the RBI, for a cash consideration of Rs 385 crore. The announcement was made during market hours today, 27 July 2017.

Index heavyweight and housing finance major HDFC gained 5.83% at Rs 1,728.50 after a foreign brokerage firm reportedly upgraded the stock to outperform from neutral citing better subsidiary valuations. A foreign brokerage firm reportedly upgraded the HDFC stock to outperform from neutral and also hiked the price target on the company to Rs 1,890 from Rs 1,635. The foreign brokerage cited better subsidiary valuations as one of the key reasons behind the upgrade. It expects dividend income from HDFC Bank to reflect from the second quarter of the year ending 31 March 2018. An improving net interest margin amidst intense competition is an encouraging sign, the foreign brokerage said in its research note.

HCL Technologies fell 0.21% at Rs 889.60. The company's consolidated net profit fell 6.6% to Rs 2171 crore on 0.8% growth in revenue to Rs 12149 crore in Q1 June 2017 over Q4 March 2017. The result was announced before market hours today, 27 July 2017.

C. Vijayakumar, President & CEO, HCL Technologies, said that the company continues to propel forward on its Mode 1-2-3 growth strategy, delivering a revenue growth of 2.6% QoQ and 12.2% YoY in constant currency terms in Q1 June 2017. This quarter, it also expanded its EBIT margins from 20% to 20.1%, through continued superior execution in its core business, integration and assimilation of the acquired entities, as well as its IP investments.

HCL Technologies expects FY 2018 revenue to grow between 10.5% and 12.5% in constant currency terms. Operating margin (EBIT) in FY 2018 is expected in the range of 19.5% to 20.5%.

The company's board declared interim dividend of Rs 2 per share for the year ending March 2018.

Dr Reddy's Laboratories fell 3.29% at Rs 2621.45 after consolidated net profit fell 56.61% to Rs 66.60 crore on 1.79% growth in total income to Rs 3371.20 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 27 July 2017.

The company's consolidated earnings before interest, taxation, depreciation and amortization (EBITDA) declined 15.56% to Rs 336 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin contracted to 10.1% in Q1 June 2017, from 12.3% in Q1 June 2016.

Commenting on the results, Dr Reddy's Laboratories Co-Chairman and CEO G V Prasad said that while headwinds in the form of price erosion due to US customer consolidation continue, a lower contribution from new product launches in the US and GST implementation in India also impacted the company's performance.

Car major Maruti Suzuki India rose 0.19% at Rs 7,592.30. The company's net profit rose 4.39% to Rs 1556.40 crore on 17.02% growth in total income to Rs 20460.10 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 27 July 2017.

Maruti's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 5.3% to Rs 2331.20 crore in Q1 June 2017 over Q1 June 2016.

Maruti said growth in volumes, favourable product mix, higher non-operating income and cost reduction efforts contributed to rise in profit. However, costs were impacted by higher commodity prices and sales promotion & marketing expenses. During Q1 June 2017, there was a one-off impact of compensation given to dealers for the tax loss incurred on vehicles in the stock at the time of transitioning to GST.

In a key political development, Nitish Kumar formed new government in Bihar with the Bharatiya Janata Party (BJP). He took oath as Chief Minister of Bihar at 10:00 IST today, 27 July 2017. With oath today, Nitish Kumar ended his party, JDU's mahagathbandhan or Grand Alliance with Lalu Yadav's RJD and the Congress last evening and joined hands with his former partner BJP.

The Sensex has risen 1,461.69 points or 4.73% in July so far (till 27 July 2017). The Sensex has risen 5,756.84 points or 21.62% in the calendar year 2017 so far (till 27 July 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,665.37 points or 25.92%.

Nifty closes above 10,000 mark26-Jul-2017 (16:18)

Market registered modest gains on positive global cues. The barometer index, the S&P BSE Sensex, rose 154.19 points or 0.48% to settle at 32,382.46. The Nifty 50 index rose 56.10 points or 0.56% to settle at 10,020.65. The Nifty closed above the psychologically important 10,000-mark for the first time. Both the Sensex, and the Nifty, hit record high in the intraday as well as on the closing basis.

Key indices opened the session with small gains amid initial volatility. Later, indices hovered in green with small to modest gains. Key indices extended intraday gains towards the late trade to hit fresh record highs.

Globally, investors await the outcome of a two-day US Federal Reserve's policy meeting scheduled later today, 26 July 2017. Markets will be watching for any signals about another possible rise in the benchmark lending rate in 2017, and on when the Fed will begin winding down its multi-trillion-dollar investment holdings.

Overseas, European stocks edged higher helped by gains in the energy sector due to a rally in oil prices, while investors awaited the Federal Reserve's policy decision due later in the day.

US equities closed higher yesterday, 25 July 2017, after a slew of major companies reported better-than-expected quarterly results. Wall Street had also set its sights on the Federal Reserve, as the central bank kicked off a two-day monetary policy meeting yesterday, 25 July 2017.

The Federal Reserve will announce its interest rate decision later today, 26 July 2017. The Fed had raised the target range for its federal funds rate by 25 basis points to 1% to 1.25% during its June 2017 meeting.

Back home, the Sensex rose 154.19 points or 0.48% to settle at 32,382.46, its record closing high. The index rose 185.36 points, or 0.58% at the day's high of 32,413.63. The index fell 2.19 points, or 0.01% at the day's low of 32,226.08.

The Nifty 50 index rose 56.10 points or 0.56% to settle at 10,020.65, its record closing high. The index rose 61.40 points, or 0.62% at the day's high of 10,025.95. The index rose 1.40 points, or 0.01% at the day's low of 9,965.95.

Index heavyweight and housing finance major HDFC rose 0.06% to Rs 1,633.25. The company's consolidated net profit fell 2.25% to Rs 2733.87 crore on 6.88% rise in total income to Rs 14463.01 crore in Q1 June 2017 over Q1 June 2016. The company announced its Q1 results during market hours today, 26 July 2017.

Bharti Airtel fell 0.32% to Rs 426.25. The company's consolidated net profit fell 58.4% to Rs 617.70 crore on 14% decline in net sales to Rs 21958.10 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.

Bharti Airtel's revenue in Q1 June 2017 dropped primarily due to decline of mobile revenues in India. In addition, currency devaluation in Nigeria had an impact on revenue growth of 2.6%.

EBITDA (earnings before interest, taxes, depreciation and amortization) margin for Q1 June 2017 dropped to 35.6% as compared to 37.5% in Q1 June 2016.

Hero MotoCorp rose 0.21% to Rs 3,714.80 after net profit rose 3.49% to Rs 914 crore on 7.51% increase in gross turnover to Rs 8612.90 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.

Hero MotoCorp's EBITDA (earnings before interest, taxes, depreciation and amortization) rose 5.35% to Rs 1295.90 crore in Q1 June 2017 over Q1 June 2016. EBITDA margin remained steady at 16.3% in Q1 June 2017.

Pawan Munjal, Chairman, Managing Director and Chief Executive Officer of Hero MotoCorp said that in Q1 June 2017, the company further consolidated domestic motorcycle market share by clocking all time high sales. The growth in the domestic market was aided by an improvement in overall market sentiment and robust demand for company's range of two-wheelers.

With several new products planned for launch over the next few quarters from world class Centre of Innovation and Technology (CIT), the company remains committed to consolidating its domestic leadership and expanding global footprint into new markets, he added.

Axis Bank fell 2.90% to Rs 528.85 after net profit fell 16.07% to Rs 1305.60 crore on 1.44% growth in total income to Rs 14052.30 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 25 July 2017.

Axis Bank's gross non-performing assets (NPAs) stood at Rs 22030.87 crore as on 30 June 2017 as against Rs 21280.48 crore as on 31 March 2017 and Rs 9553.17 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 5.03% as on 30 June 2017 as against 5.04% as on 31 March 2017 and 2.54% as on 30 June 2016. The ratio of net NPAs to net advances stood at 2.3% as on 30 June 2017 as against 2.11% as on 31 March 2017 and 1.08% as on 30 June 2016.

The bank's Net Interest Income (NII) grew by 2% to Rs 4616 crore in Q1 June 2017 over Q1 June 2016. Net interest margin stood at 3.63% in Q1 June 2017.

Axis Bank said that the bank during Q1 June 2017 raised Rs 8500 crores through issuance of Tier I and Tier II Bonds, of which Tier I was Rs 3500 crore and Tier II was Rs 5000 crore.

As on 30 June 2017, Axis Bank's provision coverage, as a proportion of gross NPAs including prudential write-offs, was at 65%.

Yes Bank advanced 6.10% to Rs 1,712.55 after net profit rose 31.93% to Rs 965.52 crore on 21.48% growth in total income to Rs 5785.96 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 26 July 2017. The bank's board at its meeting held today, 26 July 2017 approved a 5-for-1 stock split of equity shares.

Yes Bank's gross non-performing assets (NPAs) stood at Rs 1364.38 crore as on 30 June 2017 as against Rs 2018.56 crore as on 31 March 2017 and Rs 844.56 crore as on 30 June 2016.

The ratio of gross NPAs to gross advances stood at 0.97% as on 30 June 2017 as against 1.52% as on 31 March 2017 and 0.79% as on 30 June 2016. The ratio of net NPAs to net advances stood at 0.39% as on 30 June 2017 as against 0.81% as on 31 March 2017 and 0.29% as on 30 June 2016.

The bank's Net Interest Income (NII) grew by 44% to Rs 1808.90 crore in Q1 June 2017 over Q1 June 2016. Net interest margin expanded to 3.7% in Q1 June 2017 from 3.6% in Q1 June 2016.

The Sensex has risen 1,460.85 points or 4.72% in July so far (till 26 July 2017). The Sensex has risen 5,756 points or 21.62% in the calendar year 2017 so far (till 26 July 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,664.53 points or 25.91%.

Nifty corrects after hitting 10,000 mark25-Jul-2017 (16:22)

Key benchmark indices closed the session near the flat line. The barometer index, the S&P BSE Sensex, fell 17.60 points or 0.05% to settle at 32,228.27. The Nifty 50 index fell 1.85 points or 0.02% to settle at 9,964.55.

Both the Sensex, and the Nifty, reversed trend after hitting record high in early trade. The Nifty closed the session below the historic 10,000 mark after crossing that mark in early trade. The market sentiment was dull amid lackluster trading in Asian bourses and subdued closing on Wall Street overnight.

Overseas, European shares were trading higher while Asian stocks ended on a mixed note amid peak earnings season and ahead of a two-day US Federal Reserve meeting which gets underway later in the day.

Among economic news, Bank of Japan (BOJ) policymakers contested how much information the BOJ should disclose about a possible exit from quantitative easing, minutes of the central bank's June 15-16 meeting showed yesterday, 24 July 2017. Several members said consumer prices were still far from the central bank's 2% inflation target, and disclosing information about a proposed exit too soon could cause market turbulence.

US equities closed mixed yesterday, 24 July 2017 as Wall Street geared up for a major week of earnings and Federal Reserve news. The US Federal Reserve will announce its interest rate decision tomorrow, 26 July 2017. The Federal Reserve had raised the target range for its federal funds rate by 25 basis points to 1% to 1.25% during its June 2017 meeting.

Back home, the Sensex fell 17.60 points or 0.05% to settle at 32,228.27, its lowest closing level since 21 July 2017. The index rose 128.43 points or 0.39% at the day's high of 32,374.30 in early trade, a record high. The index lost 49.01 points or 0.15% at the day's low of 32,196.86.

The Nifty 50 index fell 1.85 points or 0.02% to settle at 9,964.55, its lowest closing level since 21 July 2017. The index rose 44.90 points or 0.45% at the day's high of 10,011.30. The index fell 17.30 points or 0.17% at the day's low of 9,949.10.

Among other indices, the S&P BSE Mid-Cap index rose 0.57%. The S&P BSE Small-Cap index rose 0.12%. Both these indices outperformed the Sensex.

The breadth, indicating the overall health of the market, was negative. On the BSE, 1,466 shares declined and 1,209 shares rose. A total of 167 shares were unchanged.

The total turnover on BSE amounted to Rs 4078.27 crore, higher than turnover of Rs 3736.50 crore registered during the previous trading session.

Finance Minister Arun Jaitley yesterday, 24 July 2017, introduced the Banking Regulation (Amendment) Bill 2017, in the Lok Sabha, which empowers the Reserve Bank of India (RBI) to resolve stressed assets clogging the banking system. The Bill seeks to amend the Banking Regulation Act, 1949 and replace the Banking Regulation (Amendment) Ordinance, 2017, which was promulgated in May this year. The measure allows the RBI to initiate insolvency resolution process on specific stressed assets. The RBI would also be empowered to issue other directions for resolution, appoint or approve for appointment, authorities or committees to advise the banking companies for stressed asset resolution.

Vedanta surged 3.66% to Rs 274.40 after consolidated net profit rose 67.15% to Rs 2270 crore on 23.01% growth in total income to Rs 20397 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 25 July 2017.

Asian Paints declined 0.35% to Rs 1,151.95 after consolidated net profit fell 20.1% to Rs 427.41 crore on 4.9% rise in revenue from operations to Rs 4228.26 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 25 July 2017.

K B S Anand, Managing Director and CEO of the company said that the decorative business in India registered low single digit volume growth in Q1 June 2017 with the business getting impacted especially in the month of June due to GST roll out from 1 July 2017.

In the international operations, currency devaluations in Egypt and forex unavailability in Ethiopia, impacted overall performance.

Ambuja Cements fell 0.11% to Rs 267.50. The company's consolidated net profit rose 11.9% to Rs 718.24 on 14.7% increase in net sales to Rs 6145.33 crore in Q2 June 2017 over Q2 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Ambuja Cements said that the Government's focus on infrastructure, backed by a good monsoon, should help in spurring economic growth in the second half of the year. The company said it was well prepared for the implementation of the new Goods and Services Tax (GST) with effect from 1 July 2017. The resulting simplification of the tax structure will make it easier to do business and benefit the overall economy in the long run.

Bharti Infratel rose 1.72% to Rs 416.55. The company's consolidated net profit fell 12.2% to Rs 663.90 crore on 9.7% increase in net sales to Rs 1593.40 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

The company's EBITDA (earnings before interest, taxes, depreciation and amortization) margin rose to 44.7% in Q1 June 2017 from 43.9% in Q1 June 2016.

Akhil Gupta, Chairman, Bharti Infratel said that the company continues to observe significant network rollouts for data coverage and the company believes all operators will further accelerate their data network rollout plans to grab a share in the growing data market.

Indiabulls Housing Finance rose 3.77% to Rs 1,198.75 after consolidated net profit rose 25.1% to Rs 788.22 crore on 24.2% growth in total income to Rs 3225.02 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Indiabulls Housing Finance's loan assets rose 33% to Rs 94451 crore as of 30 June 2017 over the assets as of 30 June 2016.

Zee Entertainment Enterprises fell 2.13% to Rs 538.65. The company's consolidated net profit rose 15.9% to Rs 251.44 crore on 2% decline in net sales to Rs 1540.25 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 24 July 2017.

Meanwhile, the company's board approved a composite scheme of arrangement and amalgamation between the company and certain domestic wholly-owned subsidiaries which includes demerger of Digital Media and Entertainment Business undertaking from Zee Digital Convergence, vesting with the company. Demerger of Advertisement Sales Media Business undertaking from Zee Unimedia, vesting with the company.

Demerger of Online Media Business undertaking from India Webportal Private, vesting with the company and amalgamation of Sarthak Entertainment with the company, with effect from appointed date of 1 April 2017. Since the corporate restructuring involves the company and its wholly owned subsidiaries, the scheme does not provide for any consideration for the demerger/merger proposed in the scheme.

Among other prominent news, Ram Nath Kovind took oath as India's 14th President today, 25 July 2017, at a ceremony in the Central Hall of Parliament.

The Sensex corrected after rising for two consecutive sessions. The Sensex rose 341.47 points or 1.07% in two sessions to 32,245.87 yesterday, 24 July 2017, from a low of 31,904.40 on 20 July 2017. The Sensex has risen 1,306.66 points or 4.23% in July so far (till 25 July 2017). The Sensex has risen 5,601.81 points or 21.04% in the calendar year 2017 so far (till 25 July 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,510.34 points or 25.31%.

Key benchmarks settle at new high24-Jul-2017 (16:33)

Key benchmark indices registered modest gains supported by impressive gains in index pivotals HDFC Bank, Reliance Industries, ITC and Infosys. The barometer index, the S&P BSE Sensex, rose 216.98 points or 0.68% to settle at 32,245.87. The Nifty 50 index rose 51.15 points or 0.52% to settle at 9,966.40. Both the Sensex, and the Nifty, hit record high in the intraday as well as on the closing basis.

Key indices opened on a positive note and later traded firm in positive terrain throughout the trading session. A latest report from the International Monetary Fund (IMF), in which it projected India's growth at 7.7% in 2018 propped up investors' risk-on sentiment.

Market has also got a boost from the reported comments by NITI Aayog Vice Chairman Arvind Panagariya that India is likely to clock a 7.5% economic growth in FY 2018.

Overseas, European stocks edged lower as the weakness of the US dollar continued to affect global markets. French business activity slowed more than expected in July to a six-month low, though manufacturing sped up, a survey showed today, 24 July 2017. Data compiler IHS Markit said its preliminary monthly purchasing managers (PMI) index fell to 55.7 points from 56.6 in June 2017, the lowest reading since January.

Most Asian stocks rose, with traders focused on the wobbling dollar and the upcoming two-day policy meeting from the US Federal Reserve later in the week. The Nikkei Flash Japan Manufacturing Purchasing Managers' Index, or PMI, dropped to an eight-month low of 52.2 in July from 52.4 in June. A reading above 50 signals an improvement, while one below 50 points to a contraction in activity.

US equities fell on Friday, 21 July 2017, as General Electric led industrial stocks edged lower. Meanwhile, the US Federal Reserve will announce its interest rate decision on Wednesday, 26 July 2017. The Federal Reserve had raised the target range for its federal funds rate by 25 basis points to 1% to 1.25% during its June 2017 meeting.

Back home, the Sensex rose 216.98 points or 0.68% to settle at 32,245.87, its record closing level. The index 291.97 points or 0.91% at the day's high of 32,320.86. It rose 29.44 points or 0.09% at the day's low of 32,058.33.

The Nifty 50 index rose 51.15 points or 0.52% to settle at 9,966.40, its record closing level. The index rose 66.80 points or 0.67% at the day's high of 9,982.05. It rose 4.35 points or 0.04% at the day's low of 9,919.60.

Among secondary barometers, the S&P BSE Mid-Cap index and the S&P BSE Small-Cap index advanced by 0.27% each. Both these indices underperformed the Sensex.

The breadth, indicating the overall health of the market, was negative. On the BSE, 1,385 shares declined and 1,317 shares rose. A total of 207 shares were unchanged.

The total turnover on BSE amounted to Rs 3724.99 crore, lower than turnover of Rs 4837.54 crore registered during the previous trading session.

Bharti Infratel fell 0.46%. The company is scheduled to announce Q1 June 2017 results today, 24 July 2017.

Drug major Lupin fell 0.02% at Rs 1,142.65 after the company announced that it has received final approval for its Fluocinonide Topical Solution USP, 0.05% from the United States Food and Drug Administration (USFDA) to market a generic version of County Line Pharmaceuticals, LLC's Fluocinonide Topical Solution USP, 0.05%. Lupin's Fluocinonide Topical Solution USP, 0.05% is indicated for the relief of the inflammatory and pruritic manifestations of corticosteroid-responsive dermatoses. The announcement was made during market hours today, 24 July 2017.

Reliance Industries (RIL) advanced 1.89% at Rs 1,616.10 after the company announced the launch of JioPhone, a 4G VoLTE-enabled feature phone, at an effective price of Rs zero. RIL held its 40th annual general meeting (AGM) on Friday, 21 July 2017. RIL Chairman Mukesh Ambani announced the launch of JioPhone, which is a 4G VoLTE-enabled feature phone. Reliance Jio JioPhone will hit the shelves starting the first week of September, and pre-orders begin 24 August 2017, he said. Reliance Jio has close to 100 million paid customers, added Ambani. The outcome of the AGM was disclosed to the stock exchanges after market hours on Friday, 21 July 2017.

Index heavyweight ITC rose 1.63% at Rs 293.20 on reports the cigarette major hiked select product prices following GST Council hiked cess to pre-GST level. The company increased cigarette prices of its three brands effective 18 July 2017, as per reports. It hiked Gold Flake Kings and Classic Rich prices to Rs 300 per 20 pack each while Navy Cut Filter price increased to Rs 188 per 20 pack, reports suggested. The Goods and Services Tax Council at its meeting held on 17 July 2017, increased the compensation cess on cigarettes by 48.50 paise to 79.20 paise per stick with effect from 18 July 2017.

IT major Infosys rose 1.15% to Rs 991.20. The stock hit a high of Rs 993.75 and a low of Rs 981.10 in intraday trade.

State Bank of India (SBI) rose 1.41% at Rs 294.45. The bank said that the executive committee of the central board (ECCB) of the bank at its meeting held on Friday, 21 July 2017, given approval for entering into a shareholder agreement with CA Rover Holdings (an affiliate of Carlyle Asia Partners IV), who will be the new partner in the bank's Credit Card joint venture, and shall hold 26% stake in both the companies. The proposed transactions are subject to regulatory approvals. The announcement was made after market hours on Friday, 21 July 2017.

HDFC Bank rose 1.83% at Rs 1,734.55 after net profit rose 20.22% to Rs 3893.84 crore on 14.81% growth in total income to Rs 22185.4 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 24 July 2017.

HDFC Bank's gross non-performing assets (NPAs) rose to Rs 7242.93 crore as on 30 June 2017 as against Rs 5885.66 crore as on 31 March 2017 and Rs 4920.89 crore as on 30 June 2016. The ratio of gross NPAs to gross advances rose to 1.24% as on 30 June 2017 as against 1.05% as on 31 March 2017 and 1.04% as on 30 June 2016. The ratio of net NPAs to net advances rose to 0.44% as on 30 June 2017 as against 0.33% as on 31 March 2017 and 0.32% as on 30 June 2016. The bank's provisions and contingencies rose 79.84% to Rs 1558.76 crore in Q1 June 2017 over Q1 June 2016.

The Sensex rose for the second straight session. The Sensex had gained 341.47 points or 1.07% in two sessions from a low of 31,904.40 on 20 July 2017. The Sensex has risen 1,324.26 points or 4.28% in July so far (till 24 July 2017). The Sensex has risen 5,619.41 points or 21.10% in the calendar year 2017 so far (till 24 July 2017). From a 52-week low of 25,717.93 hit on 21 November 2016, the barometer index has risen 6,527.94 points or 25.38%.

On the macro front, the International Monetary Fund (IMF) in its latest World Economic Outlook (WEO) report today, 24 July 2017, said that growth in India is expected to pick up further in 2017 and 2018 with global economic recovery remaining on track on the back of better performing emerging economies. IMF projects India to grow at 7.7% in 2018, estimating a significant increase against the backdrop of ongoing economic reforms. The IMF estimates a global growth rate of 3.5% this year, which is projected to increase to 3.6% in 2018.

Meanwhile, NITI Aayog Vice Chairman Arvind Panagariya was quoted as saying said that India is likely to clock a 7.5% economic growth in FY 2018, even as he acknowledged that creation of good jobs in the country remains a big challenge. With the Indian government implementing the big ticket reform of the Goods and Services Tax, Panagariya reportedly said while there could be some teething troubles as the country embraces the ambitious financial reform, he does not see it significantly impacting economic growth going forward.

Sensex ends above 32,000 mark21-Jul-2017 (16:24)

Key benchmark indices ended the volatile session on a positive note. The barometer index, the S&P BSE Sensex, rose 124.49 points or 0.39% to settle at 32,028.89. The Nifty 50 index rose 41.95 points or 0.42% to settle at 9,915.25. The Sensex settled a tad above the psychologically important 32,000 mark after trading above and below that level in intraday trade. Shares had fallen in intraday trade due to negative global cues. However, gains in index pivotals Reliance Industries (RIL) and IT major Wipro supported the bourses at lower levels.

Overseas, European stocks fell, weighed by strength in the euro, as the flow of corporate earnings results failed to provide a lift. The European Central Bank (ECB) took a dovish stance on policy and its ongoing stimulus program. ECB left its key interest rates unchanged on Thursday. The ECB also reiterated its plan to purchase 60 billion euros worth of government bonds and other assets each month through December.

Most Asian shares declined, taking a breather from recent upmove. US stocks finished mostly lower on Thursday as Home Depot weighed on the Dow, but the Nasdaq bucked the trend to match its best win streak since February 2015 and closed at a record. The Dow Jones Industrial Average shed 28.97 points, or 0.1%, to end at 21,611.78. The Nasdaq Composite Index edged up 4.96 points to close at 6,390, rising for a 10th session in a row. The S&P 500 index slipped 0.38 points to finish at 2,473.45.

Back home, the Sensex rose 124.49 points or 0.39% to settle at 32,028.89, its highest closing level since 17 July 2017. The index rose 157.83 points, or 0.49% at the day's high of 32,062.23. The index fell 95.47 points, or 0.30% at the day's low of 31,808.93.

The Nifty 50 index rose 41.95 points or 0.42% to settle at 9,915.25, its highest closing level since 17 July 2017. The index rose 51.40 points, or 0.52% at the day's high of 9,924.70. The index fell 35.30 points, or 0.36% at the day's low of 9,838.

Indian Bank fell 0.48% to Rs 328.85 after net profit increased 21.16% to Rs 372.40 crore on 3.79% growth in total income to Rs 4788.04 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 21 July 2017.

The bank's gross non-performing assets (NPAs) stood at Rs 9653.01 crore as on 30 June 2017 as against Rs 9865.13 crore as on 31 March 2017 and Rs 8894.23 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 7.21% as on 30 June 2017 as against 7.47% as on 31 March 2017 and 6.97% as on 30 June 2016. The ratio of net NPAs to net advances stood at 4.05% as on 30 June 2017 as against 4.39% as on 31 March 2017 and 4.48% as on 30 June 2016. The bank's provisions and contingencies surged 71.59% to Rs 715.55 crore in Q1 June 2017 over Q1 June 2016.

IT major Wipro jumped 6.47% to Rs 286.40 after the company at the time of announcing Q1 results said that its board approved buyback of shares up to Rs 11000 crore.

Wipro's consolidated net profit fell 8.13% to Rs 2082.60 crore on 3.09% fall in net sales to Rs 13626.10 crore in Q1 June 2017 over Q4 March 2017. The result was announced after market hours yesterday, 20 July 2017. The results are as per International Financial Reporting Standards (IFRS).

The company's consolidated revenue from IT services segment in dollar terms rose 0.9% to $1,971.7 million in Q1 June 2017 over Q4 March 2017.

Jatin Dalal, Chief Financial Officer of Wipro said that the impact on operating margins by rupee appreciation and salary increases was partially offset by strong business efficiencies. The company continues to sustain robust cash generation.

Wipro expects revenue from IT Services business to be in the range of $1,962 million to $2,001 million in Q2 September 2017.

Wipro's board of directors approved a buyback proposal of up to 34.37 crore shares (representing 7.06% of total paid-up equity capital) from the shareholders of the company on a proportionate basis by way of a tender offer at Rs 320 per equity share for an aggregate amount not exceeding Rs 11000 crore. Promoters have indicated their intention to participate in the proposed buyback.

Ashok Leyland fell 2.64% to Rs 103.15 after net profit fell 61.74% to Rs 111.23 crore on 0.37% decline in total income to Rs 4552.79 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 21 July 2017.

Ashok Leyland's profitability in Q1 June 2017 was lower, primarily because of a richer mix and exchange gain on swap contracts in Q1 June 2016. The mix is expected to significantly improve in the coming quarters, the company said. The next 3 quarters look promising as the demand is expected to pick up on the back of Government spending on infrastructure as well as positive impact of GST, it added.

Index pivotal Reliance Industries (RIL) advanced 3.76% to Rs 1,586.20 after the company announced during trading hours today, 21 July 2017, that its board of directors recommended 1:1 bonus issue of shares.

The company's consolidated net profit rose 28% to Rs 9108 crore on 26.7% rise in revenue to Rs 90537 crore in Q1 June 2017 over Q1 June 2016. The announcement was made after market hours yesterday, 20 July 2017.

RIL's increase in revenue is primarily on account of increase in prices and volumes of refining and petrochemical products partially offset by lower prices and volumes from exploration and production (E&P) business. Revenue was also boosted by robust growth in retail business which recorded a 73.6% increase in revenue to Rs 11571 crore. Reliance Retail witnessed growth across all consumption baskets during the quarter.

Strong refining and petrochemicals margin environment contributed to higher operating profits for the quarter. Gross refining margins recorded nine-year-high of $ 11.9 per bbl whereas petrochemicals EBIT (earnings before interest and depreciation) margin were at all-time high of 15.8%. Gross refining margin rose to $11.9 per barrel in Q1 June 2017 from $11.5 per barrel in Q1 June 2016.

Meanwhile, the board of directors of RIL considered and approved an investment in Balaji Telefilms (BTL), to acquire 2.52 crore equity shares constituting 24.92% of BTL's equity, through subscription to preferential issue of shares by BTL to RIL for cash consideration of Rs 164 per equity share amounting to an investment of Rs 413.28 crore. This investment in content production (including digital content) is in line with RIL's commitment to invest and grow in telecom digital and media businesses.

Media company Balaji Telefilms rose 0.46% to Rs 187.50 after the company said its board approved preferential issue of 2.52 crore shares of the company at Rs 164 per share, aggregating Rs 413.28 crore to Reliance Industries. The announcement was made after market hours yesterday, 20 July 2017.

On the macro front, NDA candidate Ram Nath Kovind was on Thursday, 20 July 2017, elected as the 14th President of India after receiving an overwhelming majority of votes from the country's lawmakers. Kovind defeated Opposition candidate Meira Kumar, a former Lok Sabha speaker after garnering 66% of the votes in the Electoral College. Kovind received 2,930 votes with a value of 7,02,044. Kovind will be the first BJP member to be elected president. He will be sworn in by the Chief Justice of India JS Khehar in the Central Hall of Parliament on 25 July.

Stocks register small decline 20-Jul-2017 (16:43)

Key benchmark indices ended with small losses in volatile session of trade. The barometer index, the S&P BSE Sensex, fell 50.95 points or 0.16% to settle at 31,904.40. The Nifty 50 index fell 26.30 points or 0.27% to settle at 9,873.30. The Sensex ended below the psychologically important 32,000 mark after crossing that level in early trade.

The Sensex fell 50.95 points or 0.16% to settle at 31,904.40, its lowest closing level since 18 July 2017. The Sensex rose 101.77 points, or 0.32% at the day's high of 32,057.12 in early trade. The index fell 95.85 points, or 0.30% at the day's low of 31,859.50 in afternoon trade.

The Nifty 50 index fell 26.30 points or 0.27% to settle at 9,873.30, its lowest closing level since 18 July 2017. The Nifty rose 22.95 points, or 0.23% at the day's high of 9,922.55 in early trade. The index fell 36.15 points, or 0.37% at the day's low of 9,863.45 in afternoon trade.

Among secondary barometers, the BSE Mid-Cap index fell 0.52%. The decline in this index was higher than the Sensex's decline in percentage terms. The BSE Small-Cap index rose 0.16%, outperforming the Sensex.

The market breadth, indicating the overall health of the market, was negative. On BSE, 1,436 shares declined and 1,286 shares rose. A total of 147 shares were unchanged.

The total turnover on BSE amounted to Rs 3880.89 crore, lower than turnover of Rs 4874.24 crore registered during the previous trading session.

Kotak Mahindra Bank fell 1.44%. The bank's net profit rose 23.01% to Rs 912.73 crore on 8.64% growth in total income to Rs 5562.66 crore in Q1 June 2017 over Q1 June 2016. The result was announced during market hours today, 20 July 2017.

The bank's gross non-performing assets (NPAs) rose to Rs 3726.62 crore as on 30 June 2017 as against Rs 3578.61 crore as on 31 March 2017 and Rs 3058.81 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 2.58% as on 30 June 2017 as against 2.59% as on 31 March 2017 and 2.5% as on 30 June 2016. The ratio of net NPAs to net advances stood at 1.25% as on 30 June 2017 as against 1.26% as on 31 March 2017 and 1.21% as on 30 June 2016. The bank's provisions and contingencies rose 13.49% to Rs 203.74 crore in Q1 June 2017 over Q1 June 2016. The bank has total exposure of Rs 236 crore to 4 of 12 accounts identified by the Reserve Bank of India (RBI) for insolvency proceedings.

All the four accounts were inherited from ING Vysya Bank after merger with the bank on 1 April 2015. Kotak Mahindra Bank on its own had no exposure to any of the 12 accounts. The bank said that the provision is well in excess of RBI stipulation.

Karnataka Bank rose 0.79%. The bank said that it is targeting a farm credit of Rs 6800 crore during 2017-18. Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, said that timely extension of farm credit, technical counselling, marketing input to farmers to reap maximum benefit and thereby ensuring timely renewal shall be focused by agri business managers to have a commercially viable agri portfolio which is remunerative to both the bank and farmers. The announcement was made after market hours yesterday, 19 July 2017.

Canara Bank lost 5.09% after the bank's gross and net bad loans ratio grew as on 30 June 2017, compared with the period ended 31 March 2017 and 30 June 2016. The result was announced after market hours yesterday, 19 July 2017.

Canara Bank's net profit rose 9.9% to Rs 251.60 crore on 4.4% growth in total income to Rs 12304.10 crore in Q1 June 2017 over Q1 June 2016.

The bank's gross non-performing assets (NPAs) stood at Rs 37657.76 crore as on 30 June 2017 as against Rs 34202.04 crore as on 31 March 2017 and Rs 32334.07 crore as on 30 June 2016. The ratio of gross NPAs to gross advances stood at 10.56% as on 30 June 2017 as against 9.63% as on 31 March 2017 and 9.71% as on 30 June 2016.

The ratio of net NPAs to net advances stood at 7.09% as on 30 June 2017 as against 6.33% as on 31 March 2017 and 6.69% as on 30 June 2016. The bank's provisions and contingencies surged 47.6% to Rs 2203.78 crore in Q1 June 2017 over Q1 June 2016.

Motorcycle maker Bajaj Auto fell 0.22% to Rs 2,818.65 amid intraday volatility after the company announced Q1 June 2017 results during market hours today, 20 July 2017. Bajaj Auto's consolidated net profit fell 19.52% to Rs 836.74 crore on 2.8% decline in total income to Rs 6177.66 crore in Q1 June 2017 over Q1 June 2016. The entire benefit on reduction in effective tax rates post GST has been passed on to the customers. This has resulted in a reduction in ex-showroom price of motorcycles, which were dependent on the Brand-State, varying from a low of Rs 200 to a high of Rs 6,500 per motorcycle, Bajaj Auto said.

ABB India rose 0.42%. The company's net profit rose 38.18% to Rs 76 crore on 6.15% rise in revenue to Rs 2224 crore in Q2 June 2017 over Q2 June 2016. The result was announced during market hours today, 20 July 2017.

ABB India's net profit margin rose to 3.4% in Q2 June 2017 from 2.6% in Q2 June 2016. This was a quarter where the lag effect of demonetization and troughing corporate lending met with the anticipation of Goods and Services Tax (GST). Continued close collaboration led to deeper insights of customer operations in a dynamic environment. This ensured revenue growth. Lean management, relentless pursuit of cash over revenue, and similar initiatives as part of operational excellence yielded savings and superior cash position.

Orders grew 13% to Rs 2301 crore in Q2 June 2017 over Q2 June 2016 reflecting company's organic growth strategy. Large orders remained muted as decisions on government initiatives and private investments were stalled in anticipation of upcoming tax restructure.

Base orders were the key contributor with industry turning to improving operational efficiencies through technology and digital upgrades including robotics automation. ABB strengthened its own digital asset health management offering to support the transformation of the Indian industry - with the launch of its remote drives service center. Export orders continued the uptrend in the year with a focus on power networks and industrial efficiency.

Godrej Industries rose 1.92% after the company said its subsidiary Godrej Agrovet has filed Draft Red Herring Prospectus with market regulator Sebi for an initial public offering of shares. The announcement was made after market hours yesterday, 19 July 2017. The proposed initial public offer (IPO) of Godrej Agrovet consists of fresh issue of equity shares aggregating up to Rs 300 crore and an offer for sale (OFS) of shares aggregating upto Rs 300 crore and upto 1.23 crore shares by V-Sciences Investments Pte.

Jubilant Industries lost 4.89% after the company reported consolidated net loss of Rs 1.66 crore in Q1 June 2017, compared with net profit of Rs 1.05 crore in Q1 June 2016. Consolidated net sales fell 8.6% to Rs 111.17 crore in Q1 June 2017 over Q1 June 2016. The result was announced after market hours yesterday, 19 July 2017.

Recently, the Government of India had hiked import duty on sugar to 50% from 40% with effect from 10 July 2017, to restrict cheap inward shipments and maintain domestic prices.

Also, the demand for sugar is expected to rise as the festive season is around the corner.

Atlas Cycles (Haryana) was locked at 5% upper circuit at Rs 375.05 after the company said its board will meet on 4 August 2017, to consider sub-division of equity shares.

Sterlite Technologies hit an upper circuit limit of 20% at Rs 206.75, with the stock extending previous sessions' rally triggered by the company posting highest ever order book of Rs 3140 crore at the end of Q1 June 2017. The stock had catapulted 8.98% to Rs 172.30 yesterday, 19 July 2017 after the company announced Q1 results during market hours on that day.

Sterlite Technologies' consolidated net profit fell 4.82% to Rs 60.59 crore on 5.76% rise in total income to Rs 751.19 crore in Q1 June 2017 over Q4 March 2017. The company's consolidated net profit surged 61% to Rs 61 crore on 23% rise in revenues to Rs 744 crore in Q1 June 2017 over Q1 June 2016.

Sterlite Tech reported highest ever quarterly revenues in Q1 June 2017, driven by strong order book and export sales. The company reported the highest ever quarterly export sales of Rs 320 crore and highest order book of Rs 3140 crore at the end of Q1 June 2017. With positive shifts in technology, national policies and consumption patterns for the creation of smarter broadband infrastructure, Q1 June 2017 saw optical fibre demand showing a consistent upward trend in the global markets. This reflected with healthy increase in exports at 43% of revenues.

Overseas, European bourses were trading higher supported by a surge in global stocks, as investors awaited a rate decision by the European Central Bank (ECB) later in the session. As per reports, the ECB is not expected to adjust interest rates today, 20 July 2017, but it is projected to signal plans to slow down some of its asset purchases over the next few months.

Most Asian shares rose, bolstered by a surge in global stocks to a record high on strong US corporate earnings. Earlier in the day, the Bank of Japan kept its monetary policy unchanged after its two-day meeting. However, BoJ slashed its inflation forecasts for fiscal years 2017-2018 and 2018-2019.

US stock-market indices closed firmly higher yesterday, 19 July 2017, with all of the main equity benchmarks notching records, as investors digested better-than-expected earnings. The Dow Jones Industrial Average closed up 0.3% higher at 21,640. The S&P 500 index rose 0.5% at 2,473 and the Nasdaq Composite Index ended up 0.6% at 6,385. Market sentiment was aided partially by an early climb in shares of Morgan Stanley after it reported earnings and revenue that topped expectations.

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